In a major development, Finland’s Wartsila plans to cut 700 jobs globally as the Finnish engineering group splits its ship technology business into three separate business units, reports Reuters.
Statement from Wartsila
“Even though the timing is challenging, implementing the new organisation and modus operandi fast is important for Wartsila’s future success,” Vesa Riihimaki, head of Wartsila’s Finnish operations said in a statement.
Massive Job Cut
Wartsila said 220 of the 700 job cuts would happen in Finland.
Job cuts likely to affect seafarers
In times of COVID19, when seafarers are affected by crew changes, this unwarranted job cuts in one of the largest shipping companies in the world is likely to affect seafarers.
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Source: Reuters
