Metso to cut 660 jobs in paper machine unit

Finnish engineering firm Metso will cut 660 jobs in Finland at its paper machine business, as part of its cost-cutting programme in the unit.

Metso estimated in August that it might cut up to 750 jobs.

Metso said it plans to spin off and list its pulp, paper and power (PPP) unit into a new company called Valmet to boost growth. Shareholders are due to vote on the plan later this year.

(Reporting by Terhi Kinnunen; Editing by Louise Heavens)