Kone to axe up to 70 jobs in Finland

Finnish elevator and escalator company Kone has decided to reduce up to 70 positions in Finland as a part of austerity measures, said the company in a press release on Monday.

The company started negotiations on Monday in accordance with Finnish statutory requirements in this regard.

The negotiations concerning its Hyvinkää factory operations as well as the company’s Research & Development (R&D) unit affecting mainly Finland-based employees.

The negotiations will focus on aligning operations and resources more closely with the current market conditions.

“At this stage, the estimated need for reductions is at most 70 positions in Finland. The final number of redundancies and any potential alternative measures will be determined as the statutory negotiations progress,” said the press release, adding that in the scope of the negotiations are approximately 840 employees in Finland, where the impact is expected to be most significant.