Europe's leading paper and cardboard maker, Stora Enso said today it could temporarily lay off more than 5,000 workers in Finland due to weakened demand.
Europe's leading paper and cardboard maker, Stora Enso said today it could temporarily lay off more than 5,000 workers in Finland due to weakened demand.
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The duration and other details of the layoffs would be determined in talks with employees, Stora Enso added in a statement.
In a separate statement the company said fourth quarter profit would be hit by USD 891 million dollars in charges due to reduced production and wood inventory write-downs.
Paper makers have been struggling to cope with weakening demand, falling prices and oversupply, while costs have remained high.
In recent months, Stora Enso has said it will permanently slash nearly 1,800 jobs across Europe.
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