Suunto plans to lay off nearly all staff in Finland

Sports watchmaker Suunto is planning to lay off nearly all its employees in Finland, Yle reported on Thursday, citing Helsingin Sanomat.

The planned change negotiations would cover all Suunto staff except senior management. Of the company’s about 160 employees in Finland, 118 could lose their jobs. Suunto’s management had not responded to the newspaper’s requests for comment by Thursday afternoon.

Suunto’s Chinese owner, Liesheng, is planning to move the company’s operations in Finland to China and other European countries, Helsingin Sanomat reported.

Liesheng bought Suunto from Amer Sports in 2022. The number of Suunto employees in Finland has fallen since then. Two years ago, the company said it would end sports watch production in Finland and concentrate manufacturing in China.