Outokumpu to cut 650 positions in restructuring for €100 million savings

Published 01/10/2025, 10:06
© Reuters.

Investing.com -- Finnish stainless steel manufacturer Outokumpu Oyj (HEL:OUT1V) announced Wednesday it is proceeding with a planned restructuring program that will affect 650 positions by 2027.

The company aims to achieve €100 million in savings through the restructuring initiative. Of the total positions affected, approximately 120 are expected to be reduced through normal attrition.

Outokumpu is initiating negotiations that may impact up to 450 employees as part of the restructuring effort.

The company anticipates recording an adjustment item of approximately €45 million related to a restructuring provision, primarily in the fourth quarter of 2025.

The majority of this €45 million cash flow impact is expected to occur in 2026.

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