Outokumpu has advanced plans for a restructuring program aimed at achieving EUR 100 mln (USD 117 mln) in structural cost savings by the end of 2027, following its earlier announcement in July.
The program will primarily target business area Europe and global group functions, focusing on fixed-cost reductions, efficiency improvements, and optimization of the production footprint.
The measures are expected to affect around 650 positions globally. Of these, 94 cuts have already been agreed, while about 120 roles are anticipated to be reduced through natural attrition.
Outokumpu will now begin negotiations that could impact up to 450 employees, with discussions starting in the coming weeks. The company expects to record a EUR 45 mln (USD 52.8 mln) restructuring provision, mostly in Q4 2025, with the main cash flow impact anticipated in 2026.
CEO Kati ter Horst said the measures are necessary to counter weak stainless steel demand in Europe and growing competition from low-cost Asian imports, while pledging support for employees affected by the transition.
1 USD / 0.85 EUR
