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Tikkurila Launches New Savings Program

3:18 AM MST | January 16, 2009 | Natasha Alperowicz

Tikkurila (Helsinki), Kemira's paints and coatings subsidiary, says it plans to launch a group-wide savings program likely to involve 500 job cuts, accounting for 13% of Tikkurila's global workforce. The program aims to save an annualized €25 million ($33.75 million) and secure the company's future competitiveness. Tikkurila says it has already begun netotiations relating to its Vantaa, Finland site, where the company may reduce its workforce by 200, some 22% of the total employed at the site. "In addition to personnel reductions, the negotiations will...

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