May 2024 | Metso plans to implement structural adjustments in certain parts of its Minerals equipment business including permanent and temporary layoffs. The industrial company aims to strengthen competitiveness and improve efficiency.
According to Metso, the planned restructuring of the Minerals equipment business will address the changes in the market environment that are driven by, for example, an increasing emphasis on strategic minerals that support the energy transition.
The planned changes shall improve agility, extend customer reach and coverage, and enable better alignment towards customers. At the same time, Metso seeks to implement efficiency improvements to compensate for slow decision making that is influencing large customer investments.
As a result, Metso will start local consultation processes that will affect parts of the Minerals equipment business and the related market area operations. The planned changes include organizational realignment and other efficiency measures as well as permanent and temporary layoffs. Based on Metso’s preliminary view, the planned estimated employee reduction need is approximately 240 positions globally, of which at maximum 90 are in Finland.
Further information at the company’s website
Background
Metso’s core business is in sustainable technologies, end-to-end solutions and services for the aggregates, minerals processing and metals refining industries globally. Headquartered in Espoo, Finland, the company employs over 17,000 people in close to 50 countries and sales for 2023 were about EUR 5.4 billion. The company is listed on the Nasdaq Helsinki.
