(Europe) Norwegian newsprint producer Norske Skog will cut European production by 10 percent due to oversupply — leading to layoffs, mainly in Norway.
Even though the company swung to a net profit in the second quarter from losses a year earlier after a turnaround program, it said economic performance was still not enough.
The company has 18 mills and about 10,000 employees worldwide. The company is officially listed as Norske Skogsindustrier ASA, but asks to be referred to as Norske Skog.
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