Ruukki Construction concludes cost adjustment program

SSAB's subsidiary Ruukki Construction has completed the cost-adjustment program announced in June 2023. The company-wide adjustment measures resulted in a total reduction of 182 jobs in Ruukki's operating countries. The measures will result in annual cost savings of approximately EUR 15 million.

 The adjustment program initiated by Ruukki Construction in June 2023 has completed. The changes affected all the company’s businesses and operating countries and were aimed at aligning operations to lower demand  on the construction market and achieving cost savings of approximately EUR 15 million. In June, the company estimated that the measures could result in the reduction of approximately 200 positions.

 In addition to cost-saving measures, the adjustment program included structural changes. These included, for example, the centralization of Ruukki Express' operations in larger locations in Poland, the reorganization of Plannja Järnforsen's operations in Sweden, the discontinuation of the company's own roofing installation contracting unit in Finland, and the integration of the façade cladding business into country organizations.

 "Although the low demand situation on the construction market looks set to continue next year, we strongly believe in our ability to succeed in the future. A clearer operating model and a stronger focus on core businesses will improve our competitiveness going forward. Sustainable low-carbon products, close customer cooperation and local operations near customers are at the core of our strategy, and we will continue to implement our multi-year investment program to ensure sustainable growth together with our customers," says Sami Eronen, President, Ruukki Construction.

 Following the adjustment measures, Ruukki Construction employs around 1,350 people in a total of ten countries in the Nordics, Baltics and Central Eastern Europe.

 For more information please contact

 Sami Eronen, President, Ruukki Construction