Europe's leading paper and cardboard maker, Stora Enso said yesterday it could temporarily lay off more than 5,000 workers in Finland due to weakened demand.
In a separate statement the company said fourth quarter profit would be hit by 670 million euros ($891 million) in charges due to reduced production and wood inventory write-downs. Stora Enso had previously said it will permanently slash nearly 1,800 jobs in Europe.
Source : Hurriyet DailyNews
[tags : recession bankrupt collapse retrenchment financial news collapse stagnation economic slowdown financial collapse world recession global recession layoff job cut]
0 comments:
Post a Comment