The reductions are being achieved though pension arrangements, redundancies and not renewing fixed-term contracts.

The negotiations concerned about 1,300 workers in Finland, although sawmills, sawn timber upgrading units and their sales operations were excluded from the review.

The cost-cutting review was launched in April and is expected to lead to up to 255 job losses group-wide.

The main development in the rationalisation is the merger of Metsä’s plywood and building products operations into a single building and industry business line.