Billerud has decided to launch a cost saving program targeting annualized savings of SEK 800 million. The planned cost savings will affect Billerud’s European operations and Group functions globally and will include reduction of up to 650 positions. Due to the weakened market conditions in Europe, Billerud has decided to launch a cost saving program targeting annualized savings of SEK 800 million. …The measures will focus on reducing fixed costs through strict cost prioritization, streamlined ways of working and personnel reductions across all functions and locations in Billerud’s Region Europe and Group functions. The plans involve a potential reduction of up to 650 positions. Local negotiations with the unions will begin shortly. “In this challenging market situation for the European paper and packaging industry… we are taking proactive measure to reduce our cost base even further and strengthen Billerud’s long-term competitiveness and profitability,” says Ivar Vatne CEO.