UPM New Business Structure to Impact up to 230 Positions
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- Clearer targets and action points for each business
- Increased transparency of company performance
- Simplified business portfolio
- Clearer visibility of the value of assets.
As part of the program announced in August, UPM also announced plans to reorganize its Finance and Control operations and to outsource recurring transactional tasks to an external company by the end of the second quarter of 2014. The employee consultation process is now closed and decisions were made accordingly. The number of personnel will decrease by 150 positions, of which 92 are in Finland and the rest are in China and other countries.
UPM said that it is currently conducting employee consultations with employee representatives in its Paper Europe and North America business area, as was announced this past September. This week UPM added that it is continuing the program by announcing further plans to improve performance. The company is planning to adjust other global functions’ operations and cost structures to match the new business requirements and organization. In addition, UPM plans to restructure its wood sourcing and forestry activities to improve the competitiveness of UPM mill integrates.
Decisions on planned organizational changes, planned job reductions, and plans for support to the impacted employees will be made when the consultation processes have been completed.
In total, the new plans announced this week are estimated to impact a maximum of 230 positions, of which 150 are in Finland and 80 in other countries.
