Swedish sawmilling and biofuels group Vapo Oy says it plans to cut fewer jobs than earlier forecast.
Following completion of staff reduction consultations, launched in January, the group said around 60 jobs would be lost, rather than the 90 earlier targeted.
Cost savings that have saved 30 jobs include the group management team turning holiday pay into time off, retirements and the ending of fixed-term employment contracts.
Vapo is also undertaking an efficiency enhancement programme – non-personnel savings costs – to achieve savings of €10m annually.
