Finland: Cargotec Plans to Adjust Operations

To strengthen its three business areas’ leading position, Cargotec announced in September that it will develop its governance model towards an organisation driven by three business areas Marine, Terminals and Load Handling.

The role of Cargotec’s global support functions and corporate functions is planned to be restructured towards a holding type of company structure to enable more independent businesses.

In order to adjust to the new operating model and to improve Cargotec’s profitability, Cargotec starts employee cooperation negotiations about possible reduction of work force with the entire personnel. According to Cargotec’s initial estimate, the planned measures could result in the reduction of approximately 245 man-years globally of which 130 in Finland, 35 in Sweden and 80 in other countries. In the other countries possibly affected, the plans will be communicated and negotiated locally. The planned measures could also result in changes in work duties as well as transfers from duties to other ones in all personnel groups.

[mappress]

Cargotec, October 2, 2012