The employee consultations with employee representatives in Finland started by employer´s initiative on 24 October. In other countries the process will start as soon as possible and will follow local practices and legislation.

Decisions on planned organisational changes, planned job reductions and plan for support to the impacted employees will be made when the consultation processes have been completed. In total, the new plans announced today are estimated to impact a maximum of 230 positions, of which 150 in Finland and 80 in other countries.

UPM unveiled its new business structure and launched a EUR 400 million performance improvement programme on 6 August. The new structure, effective from 1 November 2013, will drive clear change in profitability. As part of this programme, on 27 August, UPM announced plans to reorganise its Finance & Control operations and to outsource recurring transactional tasks to an external company by the end of the second quarter of 2014. The employee consultation process is now closed and decisions were made accordingly. The number of personnel will decrease by 150 positions, of which 92 are in Finland and the rest in China and other countries.

UPM is currently conducting employee consultations with employee representatives in its Paper Europe and North America business area. This consultation was announced on 27 September.