Kemira: jobs for chop as profits drop

Finnish chemical producer Kemira is restructuring the group“s administrative and service functions, which will result in the loss of 30 jobs. Negotiations with personnel representatives, required und…

Finnish chemical producer Kemira is restructuring the group“s administrative and service functions, which will result in the loss of 30 jobs. Negotiations with personnel representatives, required under Finnish law, have already been concluded. Several Finnish Kemira sites will be included in the scope of the restructuring arrangements. As a result of arrangements agreed during the negotiations the impact of personnel reduction has been minimized through inhouse job transfers, the non-renewal of fixed term employment agreements, pension arrangements and arrangements to support relocation of personnel losing their jobs. There will be 15 compulsory redundancies, to be covered for the most part through the company“s own pension arrangements. The Group will continue examining outsourcement options currently underway for the part of certain administrative functions. Decisions on potential outsourcement will be taken in early 2003. Kemira“s net profit fell to EUR 52.8 million for the period January to September 2002 from EUR 67.4 million for the same period in 2001. The company posted turnover of EUR 1.975 billion for the first three quarters of 2002, compared to EUR 1.853 billion for the same period of 2001.