Oy Woikoski Ab, Finland’s oldest industrial and medical gas supplier, could slash employment and close offices after it announced the beginning of co-operation negotiations following unstable market conditions.

The negotiations, which start on 22nd April 2016, will continue for at least six weeks during which, the Finnish corporation will decide on the fate of its staffing levels and offices.

A total of 70 employment contracts could be axed, along with the possible closure of offices across the Scandinavian country in Kotka, Turku, Varkaus and Imatra, along with a complete restructuring of company operations.

We must strengthen our operational and financial foundations, to ensure that we meet the prerequisites for our company’s future operations

Woikoski have put these co-operation negotiations down to substantial changes in the market along with crucial developments in the company’s operating environment, increased competition and a necessity to make its operations more efficient.

Clas Palmberg, Managing Director of Woikoski, stressed, “Our goal is to develop Woikoski’s model of operation and corporate structure to better meet the requirements of the operating environment. We must strengthen our operational and financial foundations, to ensure that we meet the prerequisites for our company’s future operations.”

The ultimate goal of these co-operation negotiations is to scale Woikoski’s personnel resources to its level of profitable operations. More information will be available as the negotiations progress.