The management of Mondi Neusiedler GmbH in Austria and the company's works council signed an agreement governing the reorganisation of the company's Uncoated Fine Paper, according to Euwid Pulp & Paper.
Around 100 employees will loose their jobs in the course of the next few weeks. Mondi Neusiedler GmbH has 700 employees at the two mills Theresienthal and Kematen.
Reports show that the financial situation of the paper mills, which are in part integrated, was negatively impacted by the lasting decline in the market for graphic paper, especially in western Europe.
Earlier on Mondi reported that Neusiedler would first and foremost concentrate on producing premium products in the future.
