In order to ensure its long-term efficiency and profitability, the Swedish pulp and paper manufacturer Billerud Korsnäs, which is based in Solna, is starting a cost reduction programme, including staff cuts, purchasing-related savings and efficiency improvements.
The company announced its decision to reduce the number of employees by up to 300. This decision affects the entire operations and negotiations with the trade unions will begin shortly. According to Billerud Korsnäs, the cuts will mainly affect administrative jobs.
Billerud Korsnäs expects the positive SEK600m effect on earnings to be fully available as of 2021. For 2020, the results improvement is estimated at approximately SEK250m.