Wärtsilä's Ship Power business, which has been renamed Marine Solutions, plans to realign its organisation, operations and resources in response to the sluggish global marine market situation.
These plans will affect personnel in all functions of Wärtsilä Marine Solutions' global operations. The realignment will mean the reduction of approximately 600 jobs, of which some 160 will be in Finland. A portion of the reductions will be realised through retirements.
Savings
In taking these measures, Wärtsilä seeks annual savings in the region of EUR 40 million. The effect of the savings will materialise gradually beginning from the third quarter of 2015, and will take full effect by the end of 2016. The non-recurring costs related to the restructuring measures will be approximately EUR 25-30 million.
Wärtsilä states the cuts are necessary to maintain its competitive position. Currently, Wärtsilä Marine Solutions employs 7217 people globally.
Picture: Wärtsilä's Helsinki office (by Wärtsilä).
