Valmet Automotive to axe 235 staff, lay off 860 more

Finnish cars and other industrial products manufacturer Valmet Automotive on Tuesday decided to terminate 235 employees and temporarily lays off 860 more staff, said Valmet in a press release.

The company concluded the codetermination talks in this regard that started in September.

Some of the layoffs will be part-time. The total impact of the reductions is a maximum of 1,030 person-years.

The negotiations concerned all 1,300 Valmet Automotive personnel in Finland.

The change negotiations were initiated to adjust the number of personnel to better meet the current demand. The aim was also to improve Valmet Automotive’s profitability and competitiveness and to secure the company’s ability to implement its strategy in the future.

“Our aim in the change negotiations was to work together with employee representatives to find solutions that best take into account the interests of both the personnel and the company, to preserve our unique expertise in industrial serial production, and to take into consideration the needs of our new strategic direction,” said Pasi Rannus, Chief Executive Officer of Valmet Automotive.