Outokumpu has announced plans to temporarily lay off 2000 employees at its Tornio Works in Sweden. The Tornio plant is currently operating at 50% capacity, but CEO Mr Juha Rantanen said that the layoffs should not be interpreted of further cuts in production.
Not all of the 2,000 staff would be out of work at the same time. Some employees may work on a part time basis while others, such as those working in the ferrochrome mine, may be laid off until the mine reopens.
Apart from shutting down its ferrochrome operations, Outokumpu will also shut down one of its two steel melting shops and halt a number of steel processing lines at the site. The move is an attempt to conserve cash and to realign output with a slump in global stainless steel demand.
Tornio Works employs about 2,300 employees and includes a ferrochrome mine and processing facilities, which are due to shut down completely in the spring. The site also contains a stainless steel plant, and steel processing lines.
No comments:
Post a Comment