Ahlstrom Eyes Further Job Cuts to Reduce Costs
April 29, 2009 - Ahlstrom said that plans to initiate a further restructuring program focused on achieving annual cost reductions of EUR 50 million, with full effect in 2010.
The maker of specialty papers and nonwovens said it will review its underperforming units and the overall cost structure, which may impact 400-500 Ahlstrom employees globally.
Decisions related to individual actions will be made during 2009 and will be disclosed respectively, Ahlstrom said.
Ahlstrom estimates the cost of the program to be approximately EUR 40 million in 2009, of which 50% will be cash-related.
SOURCE: Ahlstrom Corp.