Helsinki - Two Finnish paper and forestry groups announced plans to trim jobs on Wednesday, citing the need to cut costs amid lower worldwide demand for paper products.
Stora Enso, one of the world's largest pulp and paper concerns, said it planned to cut 1,700 jobs from its global workforce of 36,000 employees including 600 employees in Germany, 550 in Finland, 400 in Russia, and 150 in other countries.
The company estimated that by 2010 the measures would improve its operating profit by 140 million euros (197 million dollars).
Stora Enso chief executive Jouko Karvinen said the was move aimed at offsetting "anticipated increases in duties on roundwood imported from Russia."