Wärtsilä’s Group-wide programme to realign its operations and resources in order to secure future profitability and competitiveness is proceeding according to plan. The programme emphasises sustainable savings and actions that increase customer value. The planned actions include an increased focus on targeted sales activities, developing the agreements-based and “as-a-service” business, reviewing the cost structure, and optimising the business portfolio.
The programme is expected to lead to a reduction of approximately 1,200 employees globally. The reductions will impact all businesses and support functions. With these actions Wärtsilä seeks annual savings of EUR 100 million. Savings are expected to materialise gradually during the second half of 2019, with the full effect being seen by the end of 2020. Costs related to the restructuring measures are expected to be EUR 75 million, of which EUR 56 million was recognised during the period January-September 2019.