The mining company Terrafame has announced the commencement of negotiations concerning changes that may affect its entire workforce, including job cuts, layoffs, and alterations to work arrangements. According to their preliminary assessment, the need for workforce reduction could total up to 120 person-years. Furthermore, the negotiations will also prepare for possible layoffs lasting up to 90 days, as well as changes in assignments and work time arrangements.

The primary goal of these negotiations is to achieve annual savings of at least 10 million euros. Terrafame justifies the need for these substantial cuts by emphasizing the necessity to improve profitability, as well as addressing the negative impacts of increased mining taxes. The company's current economic situation appears to necessitate these drastic measures in order to maintain operational viability.

As Terrafame navigates these challenging changes, the potential loss of jobs raises concerns not only for the impacted employees but also for the local community that relies on the mining industry for economic stability. The outcome of these negotiations could have significant implications for employment levels in the region and highlight broader issues within the Finnish mining sector regarding profitability and sustainability amidst changing regulatory conditions.