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Rautaruukki: Cost-cutting actions
Rautaruukki Oyj
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Company: Rautaruukki Oyj, Finland
Attn: Corporate Communications

Rautaruukki starting joint staff negotiations affecting corporate
Services and rautaruukki steels technology sales and investment
Service units.

Rautaruukki is starting joint staff negotiations affecting corporate
services and Rautaruukki Steel's Technology Sales (Tem) unit and
Investment Services (Inp unit). The negotiations are part of the
group's cost-cutting actions.

A total of more than a hundred people work in corporate
administration, and it is planned to reduce this number by a fifth.
The reductions in staff will be achieved through early pension
arrangements, by terminating the contracts of people on fixed-term
contracts, by job transfers or through possible redundancies.

In Rautaruukki Steel's Technology Sales units the goal is to trim
all costs in order to restore business operations to profitability.
Personnel reductions will be achieved through early pension
arrangements, by job transfers or through possible redundancies. The
unit employs 35 people.

It is planned to move Rautaruukki Steel's Investment Services
entirely from Oulu to the works in Raahe and Hameenlinna. Personnel
will be offered the opportunity of moving to Raahe or Hameenlinna,
or Rautaruukki will try to help them find work with a new employer.
The transfer aims to cut costs and raise efficiency in operations.
Investment Services provide work for 37 people.


     Tel: +358 9 417 711   Fax: +358 9 4177 6288
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