UPM to Reorganize Finance & Control Operations

Aug. 27, 2013 - UPM announced that it plans to reorganize its Finance & Control operations and to outsource recurring transactional tasks to an external company by the end of second quarter 2014.

The reorganization is expected to affect up to 180 positions, mainly in Finland and China, UPM said.

The plan is part of UPMís profit improvement program published on the 6th of August 2013, the company added.

According to UPM, the restructuring of operations aims to improve Finance & Control functionís cost-efficiency through simplifying the ways of working and building the ability to scale to current and future business needs.

Once the planned restructuring is complete, the size of UPM's Finance & Control organization will be about 450 employees.

Labor talks begin today, and decisions on planned organizational changes, job reductions and support for impacted employees will be made when the consultation processes have been completed, UPM said.