The job cuts will be made during the last quarter of 2009, and are being made due to the lower level of orders received during the first half of 2009. Both companies are based in Hyvinkää, Finland and represent headquarter functions, including IT, marketing, communications, legal, finance, HR and procurement. There will be no temporary layoffs.
These redundancies are the latest in a series of cuts to reduce the company’s costs and adjust capacity to match the market. In the second quarter 2009 interim report, Konecranes reported a reduction of 850 persons from year-end 2008. The company also estimated the number of employees would further decrease by 750 persons during the latter part of 2009.
