Finnish lift and escalator firm Kone has started redundancy talks affecting around 520 people, the company announced on Monday. The firm said that up to 90 jobs could be eliminated.
The company's restructuring negotiations will affect workers at its production plant in Hyvinkää and those who work at its global operations facilities in Hyvinkää and Espoo, both in southern Finland.
The firm's communications director Hanna Rutanen said that the co-determination negotiation talks began on Monday and would continue for six weeks, wrapping up on 10 December.
Rutanen said the company would continue to develop products in Finland and that the firm is not considering stopping product development. She said the company's Hyvinkää facility was its biggest product development unit and that it plans for that to continue.
The company hopes the reorganisation will ensure the company's competitiveness, said Rutanen, adding that it would help guarantee its profitability in the future.
"We are reducing support for certain older technology solutions," said Kone's Head of Services and Solutions R&D Samu Salmelin. "This will enable more efficient use of our resources and investments in strategically important targets."
The firm, which was established in 1910, employs some 2,300 people in Finland.