Billerud announces cost-cutting program: up to 650 jobs affected in Europe
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Swedish cardboard and packaging paper manufacturer Billerud has unveiled a new cost-cutting program designed to strengthen the company's competitiveness in the weak European market environment.
The program envisages annual savings of around SEK 800 million and includes the loss of up to 650 jobs at European plants and in group-wide functions.
According to the company, the measures focus on reducing fixed costs: in future, expenditure will be prioritized more strictly and processes streamlined. This will be accompanied by job cuts at all European production sites. There will also be reductions in group-wide units. The company says that talks with local employee representatives are to begin shortly.
The savings are expected to be noticeable from the first quarter of 2026 and to take full effect by the end of 2026. In connection with the program, Billerud plans to record restructuring costs of around SEK 350 million in the third quarter of 2025.
“In this challenging market situation for the European paper and packaging industry, we must remain focused and accelerate our progress on the factors we can influence. With this program, we are taking proactive measures to further reduce our cost base and strengthen Billerud's long-term competitiveness and profitability,” explained CEO Ivar Vatne.
