Ruukki must cut costs

Lueå SSAB's subsidiary Ruukki Construction has been hit by the decline in construction and will have to save €15 million a year and reduce its workforce by around 200 positions.

Ruukki Construction operates in ten countries and everywhere the market has weakened recently. Therefore, the company wants to streamline its operations and reduce costs.

"Demand for building products is weak in all of our operating countries. In order to ensure our competitiveness in this difficult market situation, we have to adjust our cost structure in all countries. However, we will continue to execute our long-term strategy," says Sami Eronen, President, Ruukki Construction.

The measures will be implemented by the end of 2023. Ruukki has 1,500 employees in the Nordic countries and Central and Eastern Europe.

Lennart Håkansson

editor@northswedenbusiness.com