HKScan has confirmed that it will shed 123 jobs at its Finnish operations as part of its restructuring initiative.

The group said that 49 of the job losses will come through permanent layoffs, the remainder will be achieved through retirement and fixed-term contracts.

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In a regulatory announcement, the group added that it will be redefining the roles of a further 145 staff, part of its move to improve profitability by taking complexity out of the business.

In Finland, HKScan has taken a number of measures to simplify its corporate structure, including making HK Ruokatalo Oy a wholly owned subsidiary of HKScan Corp and merging HKScan Finland Oy and Ruokatalo Oy.

The changes to staffing will come into force by the end of 2013, with the goal of cutting EUR5m (US$6.5m) in costs annually. 

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