The Swedish packaging manufacturer Billerud has decided on a comprehensive cost-cutting programme. The aim is to achieve annual savings of SEK 800 million.
The company's European activities and central Group functions are affected. According to the company, up to 650 jobs are to be cut.
This is due to the persistently weak market conditions in Europe, which have had a negative impact on profitability. The programme is expected to show noticeable effects from the first quarter of 2026 and be fully implemented by the end of 2026.
"With this programme, we are taking proactive measures to further reduce our cost base and strengthen Billerud's long-term competitiveness and profitability," explained CEO Ivar Vatne.
Restructuring costs in the third quarter
Restructuring costs of SEK 350 million will be incurred for the implementation of the programme. These will be recognised as special effects in the third quarter of 2025. At the same time, work processes will be streamlined and fixed costs will be reprioritised. The necessary negotiations with the trade unions will begin shortly.
Source: Billerud
