Terrafame initiates change negotiations affecting entire workforce in Finland

Finnish state-owned battery chemicals and mining company Terrafame has initiated change negotiations affecting its entire workforce for production and economic reasons. The company preliminarily estimates the need to reduce its workforce by a total of up to 75 person-years. The negotiations may lead to potential layoffs, changes in job roles, and part-time employment options, in addition to the possible terminations. As of the end of September, Terrafame employed a total of 826 people.

The company’s financial difficulties are primarily attributed to the slower-than-anticipated progress of transport electrification, especially in Europe, coupled with significantly lower market prices for metals and battery chemicals compared to the previous year. Further updates on the situation will follow.