Ruukki Construction, under SSAB, has successfully concluded its cost-adjustment program, reducing 182 jobs across operating countries to align with reduced demand. This initiative aims to save approximately $17.1 million annually. President Sami Eronen emphasizes the company's commitment to sustainable products and customer-centric approaches amid continued market challenges.
Ruukki Construction, a subsidiary of SSAB, has finalized a comprehensive cost-adjustment initiative announced in June 2023. The program, spanning across all operational countries and facets of the company, culminated in the reduction of 182 positions, aiming to adapt to decreased demand within the construction market. These measures are anticipated to generate annual cost savings of about $17.1 million.
The company's program, initially predicted to impact around 200 roles, has been completed. Despite persistent challenges in the construction market's demand, Ruukki Construction remains resolute in its vision for the future. President Sami Eronen highlights the strategic overhaul, emphasizing an enhanced operational framework and a heightened emphasis on core business elements to bolster competitiveness.
Eronen reinforces the company's commitment to sustainable practices, highlighting low-carbon products, customer collaboration, and localized operations as pivotal strategies. These strategies align with Ruukki Construction's core vision and underline their multi-year investment plan focused on sustainable growth alongside their clientele.
Post the adjustment measures, Ruukki Construction now sustains a workforce of approximately 1,350 individuals across ten countries in the Nordics, Baltics, and Central Eastern Europe.
President Sami Eronen invites optimism for the future, emphasizing the company's belief in its capabilities to navigate challenging market landscapes and sustainably thrive while aligning closely with evolving customer needs.
Ruukki Construction's successful conclusion of the cost-adjustment program represents a strategic realignment amidst market challenges. The initiative, targeted at optimizing operations and securing $17.1 million in annual savings, emphasizes the company's commitment to sustainable practices, customer-centricity, and strategic growth in the construction sector.