HELSINKI, Finland (AP) -- More than 5,000 UPM-Kymmene Corp. workers on Tuesday shut the paper maker's mills in Finland, in protest against thousands of layoffs and cutbacks announced last week.
The 24-hour strike was aimed at most of the company's paper and pulp mills in the country, after UPM said it will cut production and lay off 1,600 employees in 2009 and 2010.
In July, the world's largest magazine paper maker cautioned that increasing wood costs could lead to production cuts and layoffs, and said operating profit this year was expected to be lower than in 2007.
UPM has production plants in 14 countries with 170 sales and distribution companies worldwide. It employs some 27,000 people, down from 29,000 a year ago.