Stora Enso Job Cuts In Outsource Move
In a bid to significantly reduce costs, Stora Enso has announced that 300 jobs will be cut as they outsource all financial transaction processing to India and Poland.
Despite the job cuts the firm insists that ultimately financial processes and operations will be improved, and have signed an agreement with Capgemini, who are set to handle the transaction and vendor invoicing.
Originally conceived in 2007, the initiative was put in place due to increasing costs, and ensures long-term profitability. The outsourcing transition is set to begin early 2009, with completion projected sometime during the fourth quarter next year.
