On July 31, 2025, Metsä Board announced the launch of a cost savings and profitability improvement program of approximately EUR 200 million. The program aims to adjust the company's cost structure, enhance operational efficiency, and strengthen the conditions for sustainable growth. As part of the program, the company initiated change negotiations covering all personnel in all its operating countries on 7 October 2025.The estimated need for reductions in the change negotiations was up to 315 people, of which 155 were in Finland.

In Finland, the negotiations concluded earlier, resulting in a total reduction of 150 positions, which the company announced on 12 November 2025. Negotiations in Metsä Board's other operating countries have now also concluded, resulting in a total reduction of 160 positions.

As a result of the change negotiations, a total of 310 positions will be reduced across all Metsä Board's operating countries. The negotiations also included agreements on reorganizing tasks and functions to improve efficiency and strengthen competitiveness.

The company will record approximately EUR 14 million in one-off costs in its comparable operating result for October-December 2025, related to change negotiations carried out in all its operating countries, including Finland.

The change negotiations, including the impact through Metsä Group's shared services, are expected to result in annual cost savings of approximately EUR 30 million, with the effects expected to start from the first quarter of 2026.

METSÄ BOARD CORPORATION