As part of the EUR 200 million cost savings and profitability improvement programme announced on 31 July 2025, Metsä Board will initiate change negotiations involving all personnel in Finland and start statutory negotiations in its other operating countries in accordance with local legislation. The change negotiations in Finland will begin no earlier than 7 October 2025.

The change negotiations are based on production-related, financial, and operational restructuring reasons. The aim is to adjust the company's cost structure, improve cash flow, enhance business operations, and strengthen the conditions for sustainable growth.

The change negotiations concern a total of slightly more than 2,000 employees. Possible measures could include redundancies and reorganisation of tasks and operations. The estimated need for reductions is up to 315 people, of which 155 are in Finland.

One-off costs related to the possible changes will be recorded as items affecting comparability, and more detailed reporting will be provided after the negotiations are concluded.

CEO Esa Kaikkonen: "The challenging market situation requires us to take consistent and effective measures. Adjusting the cost structure and enhancing operations are necessary to return business profitability to a sustainable level. At the same time, we are creating stronger conditions for long-term competitiveness and growth. Improving cash flow has started well and has delivered results. In the change negotiation process, our goal is open and constructive dialogue, and we are committed to supporting our staff in the best possible way."

Pre-engineering of investments will be discontinued

Metsä Board has evaluated the progress of its investment projects in the pre-engineering phase as part of the transformation programme and cash flow improvement. The company has, for its part, decided not to proceed with two significant investment projects for the time being, as their profitability is insufficient in the current market situation. These projects are the renewal of the drying machine at the Husum pulp mill and the barrier board development project at the Kyro board mill. Additionally, the investment project for the change of product produced on BM2 board machine at Husum in cooperation with Metsä Tissue will not be advanced for the time being, following the completion of pre-engineering work at the end of the year.

METSÄ BOARD CORPORATION