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.

 

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