HKScan has announced it is to make job cuts as it plans to restructure its domestic business.
The Finland-based meat group estimated “no more than” 75 management-level and office staff would be affected. The firm’s head office employs approximately 400 staff.
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The planned restructure aims to achieve an annual profit improvement of approximately EUR4m (US$5.3m).
“Tough competition in the Finnish meat industry, combined with the impact of export challenges, has had a tangible adverse impact on HKScan Group’s financial performance,” the firm said.
The process will start on Monday (11 August) and is expected to last between six and eight weeks.
In the last 18 months, HKScan has made a series of restructuring moves to simplify its businesses in Finland and in overseas markets in order to improve its profitability.
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