SSAB extends temporary layoffs at steel plants in Finland

Swedish steelmaker SSAB plans to extend temporary layoffs for its Finnish sites until September at least in a response to a downturn in the European steel market, the company said in a release on Wednesday May 20.

In April, SSAB agreed temporary layoffs at its Finnish sites averaging three weeks in April-June with its employees and announced steelmaking output cuts.
With economic conditions and demand in the steel market continuing to deteriorate, the company has extended temporary layoffs to "at least as long in July and September," according to the release.
The layoffs will affect personnel in Finland excluding the subsidiaries Tibnor and Ruukki Construction, who have communicated their adjustment measures separately.

"The exact timing of layoffs will depend on the workload situation of...


Julia Bolotova

May 20, 2020

17:03 GMT