The Baltic Times

Finnish Fortum slashes jobs

  • 2002-06-20
  • Agence France-Presse, HELSINKI
The Finnish energy group Fortum, in which the Finnish government owns a 61 percent stake, said on June 14 it had started negotiating with unions with the aim of cutting 900 jobs from its 15,000-strong work force.

Fortum is currently refocusing its operations on Baltic and Nordic countries in a bid to become one of the region's leading power companies. Earlier this year it completed an acquisition of Stockholm's Birka Energi.

As a result, Fortum has estimated that 900 of its employees have become redundant in Finland and Sweden. Some 150 of the 900 are expected to retain jobs working for Fortum's subcontractors, the group said in a statement.

 

Please enter your username and password.

 Forgot your password?
 

Subscribe!

A subscription to The Baltic Times is a cost-effective way of staying in touch with the latest Baltic news and views enabling you full access from anywhere with an Internet connection. Subscribe Now!

About The Baltic Times

The Baltic Times is an independent monthly newspaper that covers latest political, economic, business, and cultural events in Estonia, Latvia and Lithuania. Born of a merger between The Baltic Independent and The Baltic Observer in 1996, The Baltic Times continues to bring objective, comprehensive, and timely information to those with an interest in this rapidly developing area of the Baltic Sea region. Read more... Our news analysis and commentaries provide readers with insight essential to understanding the three Baltic countries and their neighbors.

Publisher: Gene Zolotarev
Editor in chief: Linas Jegelevicius

Contact Us

Editorial: editor@baltictimes.com
Subscription: subscription@baltictimes.com
Advertising: adv@baltictimes.com


SIA Baltic News Limited
Reg.#: 40003044365
Address: 1-5 Rupniecibas street, Riga, Latvia
Phone: +37167229978

Stay Connected

2024 © The Baltic Times /Cookies Policy Privacy Policy