130 to lose jobs, 1080 to affect as Fortum starts co-determination talks

The Finnish majority state-owned energy company Fortum has taken an initiative to cut up to 130 jobs in Finland, Sweden, Norway and Poland, said the company in a press release on Friday.

In total, the ongoing negotiations concern some 1,080 employees as a part of Fortum’s efficiency programme.

The objective of reorganising operations is the need to adjust to Fortum’s organisation to reflect the company’s new structure and operating model as well to improve profitability and ensure competitiveness over time.

With the reduction, Fortum targets to save its annual fixed costs by EUR 100 million gradually until the end of 2025.

The reduction of EUR 100 million corresponds to some 10% of the Group’s fixed costs for the year 2022. The programme includes strategic prioritisation and assessment of allocated resources as well as turnaround actions for underperforming businesses.