Paper, timber and packaging manufacturer Stora Enso has announced a reduction of 550 jobs at the Veitsiluoto paper mill in northern Finland. Employment contracts are not being renewed for 440 workers at the paper production facility and 110 employees at the power plant. According to the company, around 28% of the job cuts have occurred through staff retirement.
Three paper production machines, the chemical pulp mill and the sheet cutting facility will cease operations between July and September of this year.
The paper mill will continue to operate on a small scale, employing 50 people in production facilities and 40 in the power plant.