Metso cancels extra dividend plan
Engineering firm Metso has scrapped plans to distribute extra dividends to shareholders. The company had intended to hand out dividends totalling 75 million euros.
Metso’s board has decided to cancel its proposal to allocate an extra dividend of 0.50 euros per share, announced last week. The company said in a statement that withdrawing the proposal was in the best interests of ’the company, its shareholders, the personnel and thereby Metso’s overall position and future development.’
The announcement follows a firestorm of criticism from shareholders, unions and the media after the company announced plans to lay off 630 workers next year.
More than ten percent of Metso’s shares are held by the Finnish government through a holding company.
Finland’s minister for state ownership steering, Heidi Hautala, had sharply criticised the plan for extra dividends when the company was making big reductions in its workforce, calling the firm’s actions 'inappropriate.'
National Coalition parliamentary group chair Jan Vapaavuori and his Social Democratic counterpart Jouni Backman had also criticised Metso over the plans.
Latest in: News
Finnish cabinet now running on woman power
The SDP cabinet reshuffle announced Friday has transformed the makeup of Finland’s cabinet, tipping the balance in favour of women. The government’s ministerial lineup now features ten women and nine men. Finland was previously led by a majority female government during Matti Vanhanen’s second term and by his successor Mari Kiviniemi.
Finland’s ”gay” Eurovision entry leaves Georgians cold
Thousands of supporters gathered in the Georgian capital Tblisi for a major gay rights demonstration in support of the Eurovision song contest and in honour of this year’s International Day against Homophobia. The backdrop to the demonstration has been outrage caused in the traditionally conservative country by a girl-on-girl kiss in the climax of the performance of Finnish Eurovision competitor Krista Siegfrids.
SDP Chair Urpilainen: Cabinet changes to continue
SDP chair and Finance Minister Jutta Urpilainen thanked her party’s ministers for their efforts following the announcement of a re-assignment of portfolios Friday. The new ministers are to be confirmed in their posts by the President next week. Urpilainen said that other changes are in the offing for the party's ministerial group.
IT firm Tieto culls jobs again
Last year, Tieto announced the elimination of 1,300 jobs in a large scale restructuring programme. This time around the Finnish IT company is looking to downsize its consultancy and integration services and plans to cut nearly 200 jobs in Finland.
SDP reshuffles portfolios
The Social Democratic Party on Friday announced changes in its line-up of cabinet ministers. Two are to be replaced while one will take over a new portfolio.
Summery weather rolls in
Warm temperatures nationwide and the chance of thunder showers in southern and central regions are making it look a lot like summer again.
Finnish entry in Eurovision Song Contest finals
Krista Siegfrids sang her way into the finals of the 2013 Eurovision Song Contest in Mälmö, Sweden on Thursday night with this year's Finnish entry "Marry Me".
Finnish women giving birth later in life -- and needing more help
Physicians warn that many Finnish couples may be leaving it too late to bring offspring into the world.
Helsinki leg of hockey worlds ends with Finnish win
The Finnish men's ice hockey team has blazed its way into the medals round with a 4-3 win over Slovakia.
Freed hostages: We were treated well under the circumstances -- but feared execution
Two Finns, Atte and Leila Kaleva, who were kidnapped in Yemen last December and held hostage for 140 days, appeared before the Finnish media Thursday for the first time since their release last week. Atte Kaleva said there were times when he feared one or both of them would be killed.
