Agence France-PresseJune 18, 2013 05:30
Finnish paper and packaging company Stora Enso said on Tuesday it would shed 2,500 jobs, mostly in Finland and Sweden, citing a weak European economy and the company's poor profitability.
The cuts were part of a restructuring plan announced in April.
"We have to respond to weakness in the European economy, structurally shrinking markets in some of our businesses and our poor profitability," chief executive Jouko Karvinen said in a statement.
Sweden will be the most affected with 750 job cuts planned, followed by Finland, where 650 positions will be eliminated.