Stora Enso North America will cut $65 million US in annual fixed costs, which will include two paper machines shutd…
Stora Enso North America will cut $65 million US in annual fixed costs, which will include two paper machines shutdowns and workforce reduction of about 1,000 employees by mid 2005.
The company first implemented such measure last August 2002, as part of its profit enhancement program.
Stora Enso North America currently employs around 6,050 people. After the program has been fully implemented, the number of employees will be about 5,000.
The Stevens Point Mill PM32, which produces 25,000 tonnes of specialty papers annually and the Biron Mill PM24, which produces 69,000 tonnes of LWC paper annually, will be permanently shut down this September. The shutdowns will affect 60 full-time positions.
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