Jobs to go at Lemminkäinen

Premium Content

10 June 2014

Berndt Brunow, Lemminkäinen

Berndt Brunow, Lemminkäinen

Troubled Finnish contractor Lemminkäinen is to cut up to 265 personnel as part of its Deliver 2014 programme, which aims to save the company €30 million in fixed costs.

Lemminkäinen announced ‘unsatisfactory’ financial results for 2013 and is now looking at cutting costs across the board.

A maximum of 265 full-time equivalents will be cut from its operations in Finland. Further cost-cutting measures include the closure of its building construction offices in Kokkola and Kouvola.

Lemminkäinen also plans to cut or re-evaluate some of the group’s IT and other development projects, sell non-core assets and operations, lighten its support functions, and cut back other fixed costs that are not critical to business operations. The savings target for 2014 is €10 million.

Interim president and CEO Berndt Brunow said, “The Deliver 2014 programme will lighten our cost structure and improve our operational efficiency in a challenging operating environment. As difficult as some of these decisions have been, they will significantly improve Lemminkäinen’s competitiveness The company’s renewal will continue.”

Latest News
Crane Institute of America appoints L.D. Stutes as GM
Stutes enters this newly created position with 37 years of experience.
Navigating new immigration policies in the construction industry
Joel Dandrea discusses what construction contractors need to know.
Link-Belt veteran William “Skeeter” Collins announces retirement
Collins, a cornerstone of Link-Belt Cranes’ sales team for over 50 years, will retire in February 2025