Major Finnish food producer HKScan said on Wednesday that its results for 2016 had been “dissatisfactory,” with comparable profit before taxes plunging to 4.4 million euros from 14.1 million the previous year.
As a result, the firm is launching a management reshuffle and redundancy talks that could lead to 150 people losing their jobs.
The negotiations will “not affect blue-collar production personnel,” HKScan says, but will instead target white-collar personnel and management in all the countries where it has operations. These include Sweden, Denmark, Poland and the Baltic states.
The company also says it plans to “improve the efficiency and transparency of [its] meat value chain”.
In November, the company said it would be moving broiler chicken production from one west-coast town, Eura, to another, Rauma, in 2017, apparently making redundancies unnecessary. It began labour negotiations related to the move in early December, saying then that it did not appear that job cuts would be necessary. The Rauma plant, to begin operations late this year, will have a staff of around 300.
Last year, the Vantaa-based firm had a turnover of 1.9 billion euros, with a workforce of some 7,400.