photo: VR Transpoint/Finnish State-Owned VR Group Faces Freight Transport Crisis, the Threat of Mass Layoffs Is Imminent
The freight transport of the Finnish state-owned VR Group is experiencing unfavourable times. It had to terminate the transport towards the east to Russia, which had the largest traffic for the transport of wooden products. The step has significantly reduced volumes for the company, which is considering measures such as mass layoffs to stay afloat.
"VR freight transport shows negative results. The reason is high inflation and the termination of transport in the eastern direction. We are considering steps such as a temporary adjustment of work in operations related to freight transport," announced VR Director of Logistics Eljas Koistinen.
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By suspending the transport of forestry products towards Russia, VR had to divert its transport to the domestic level, with a significantly lower market. As a result of this unfavourable move, the company transported 8 million tons of cargo from January to April 2023, which is 20% less than in the same period in 2022.
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The VR has been discussing the company's recovery measures since March 29 and claims it will end the layoff process as quickly as possible. However, it all depends on the demand for transport within forestry. The layoffs will affect 1,900 employees working in active logistics and train operations. The VR claims that the entire dismissal process should take a maximum of 90 days, which they would like to solve in the form of voluntary unpaid leave and family leave, transfer of holidays, and exchange of leave for time off.
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