Valmet to cut 433 jobs and furlough 1,100 staff amid restructuring

Valmet to cut 433 jobs and furlough 1,100 staff amid restructuring

Engineering company Valmet will lay off 433 employees, including 325 in Finland, the firm said on Thursday. The cuts affect only white-collar and managerial roles. The company did not specify where the redundancies will occur. However, its Rautpohja site in Jyväskylä, which employs a large share of Valmet’s white-collar workforce, is likely to be heavily impacted. Valmet employs about 1,500 people in Central Finland, of whom nearly 1,100 are whi…