UPM's businesses are preparing to adjust production temporarily in Finland and will start change negotiations on possible temporary layoffs

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UPM Pulp, UPM Timber, UPM Communication Papers and UPM Biofuels will start change negotiations on possible temporary layoffs.

The negotiations are conducted to prepare for possible temporary adjustment of production in the Finnish units should the uncertainty in the operating environment continue.

The change negotiations on possible temporary layoffs concern all UPM pulp mills, sawmills, and graphic paper mills in Finland, as well as the Lappeenranta biorefinery. The change negotiations cover approximately 780 employees at UPM Pulp Finnish operations, approximately 235 employees at UPM Timber sawmills, approximately 1,100 employees at UPM Communication Papers Finnish mills and approximately 90 employees at the UPM Biofuels Lappeenranta biorefinery.

The possible temporary layoffs could take place from 1 January until 30 June 2024 in UPM Pulp, UPM Timber and UPM Biofuels and from 1 March until 31 August 2024 in UPM Communication Papers. Any temporary layoffs could be implemented in stages and would last a maximum of 90 days in total. Decisions on possible temporary layoffs will be made after the change negotiations have been concluded.

Earlier this year, UPM has also conducted change negotiations concerning temporary layoffs in UPM Specialty Papers, UPM Plywood, UPM Raflatac, UPM Biocomposites and UPM Raumacell.

UPM Pulp is one of the world's leading producers of northern softwood, birch and eucalyptus pulp. We supply global customers in end use segments such as tissue, specialty, packaging and graphic papers, and board, through our own sales and technical service networks close to customers in the APAC region and Europe. UPM Pulp operates five pulp mills – three in Finland and two in Uruguay – as well as eucalyptus plantations in Uruguay. UPM Pulp employs approximately 2,000 people. The annual production capacity of our mills is 5.8 million tonnes of pulp. Pulp Business is part of the UPM Fibres Business Area which combines the integrated production of pulp, energy and sawn timber with a synergistic supply chain of wood raw materials. www.upmpulp.com

UPM Timber produces redwood and whitewood sawn timber for the joinery, packaging, distribution, and construction industries. Our sawmills are powered entirely by renewable energy. We use certified Finnish raw material and the latest sawmilling techniques to produce high-quality sawn timber that fulfills our customers’ requirements. UPM Timber has four sawmills in Finland with a total annual capacity of 1.4 M cubic metres and its own sales network in Europe and Asia. UPM Timber employs around 410 people and has its headquarter in Tampere. www.upmtimber.com #settingthestandard

UPM Communication Papers is the world's leading producer of graphic papers, offering an extensive product range for advertising and publishing as well as home and office uses. The high performing papers and service concepts of UPM add value to our customers' businesses, while actively fulfilling demanding environmental and social responsibility criteria. With headquarters in Germany, UPM Communication Papers employs approximately 6,500 people. More about UPM Communication Papers and its products at www.upmpaper.com

UPM Biofuels produces renewable and sustainable products for the transport and petrochemical industries. We offer our customers ways to replace fossil raw materials and reduce their carbon footprint. UPM's innovative, bio-based products are frontrunners in quality, usability and sustainability. In addition to renewable diesel, the UPM Lappeenranta Biorefinery produces renewable naphtha - an excellent wood-based raw material for plastics. www.upmbiofuels.com

We deliver renewable and responsible solutions and innovate for a future beyond fossils across six business areas: UPM Fibres, UPM Energy, UPM Raflatac, UPM Specialty Papers, UPM Communication Papers and UPM Plywood. As the industry leader in responsibility, we are committed to the UN Business Ambition for 1.5°C and the science-based targets to mitigate climate change. We employ 17,200 people worldwide and our annual sales are approximately EUR 11.7 billion. Our shares are listed on Nasdaq Helsinki Ltd. UPM Biofore – Beyond fossils. www.upm.com

Source: UPM