In January 2019, Wärtsilä announced a group-wide programme to realign its operations and resources in order to secure future profitability and competitiveness. When finalised, the program is expected to lead to a reduction of approximately 1,200 employees globally and to generate savings of EUR 100 million. The related costs are estimated be EUR 75 million.
The majority of the planned actions were taken during the year. Approximately EUR 50 million of savings materialised by the end of 2019, of which a significant portion was volume related. Costs related to the restructuring measures amounted to approximately EUR 70 million. The remaining savings and costs will be recognised during 2020.