The forest company UPM has initiated a severe restructuring programme that will eliminate 10 % of the company's jobs. UPM will cut 3 600 jobs of which just under 3 000 in Finland.The production cuts are particularly severe in Finland. Closing down paper making machines means that Finnish production will be reduced by about 5 %.
UPM's factory shutdowns and restructuring of production will result in a reduction of total annual demand for spruce fibre and wood chips in the order of 600 000 - 800 000 m3.