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Finland's Perlos restructures to cut losses


Finland's Perlos restructures to cut losses


Perlos, the Finnish company that makes casings and other components for mobile phones, has announced a major restructuring programme. Faced with mounting losses, it will cut its workforce by almost a third and end production in its native Finland.

More than 4,000 people will lost their jobs including 1,200 in Finland. There will also be cutbacks in Hungary, Mexico, Brazil and China. The company is a leading supplier to the world’s biggest mobile phone maker Nokia, but said it had been getting fewer orders from Nokia and needs to broaden its client base. Perlos wants to reduce annual costs by more than 100 million euros. It suffered an operating loss of between three and four million euros in the fourth quarter on sales of 144 million. The operating loss for all of last year was around 33 million euros.

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