Stora Enso Oyj - SEOJF STOCK NEWS

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Stora Enso Oyj (SEOJF) drives innovation in renewable packaging, biomaterials, and sustainable wood solutions. This news hub delivers essential updates for stakeholders tracking the company's financial performance and environmental leadership.

Access official announcements including earnings reports, strategic initiatives like the EUR 80 million operational EBIT improvement program, and sustainability milestones. Our curated feed covers restructuring developments, partnership announcements, and market positioning updates.

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02/01/2024 02:01 AM

News

Stora Enso plans a programme to improve long-term profitability and competitiveness

Rhea-AI Summary

Stora Enso Oyj plans to initiate a new profit improvement program targeting an annualized EUR 80 million improvement of the operational EBIT, potentially leading to a reduction of approximately 1,000 employees. The majority of the savings would materialize during 2025, and the larger part of the employee reductions are planned to take place during the first half of 2024. The program is designed to improve the company's long-term competitiveness by focusing on core business activities without any new production site closures. Stora Enso completed a restructuring program in 2023, resulting in an annual operational EBIT improvement of EUR 110 million and 1,150 employee reductions.

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