UPM announced that it plans to reorganize its Finance & Control operations and to outsource recurring transactional tasks to an external company by the end of second quarter 2014.

The reorganization is expected to affect up to 180 positions, mainly in Finland and China, UPM said.

The plan is part of UPM’s profit improvement program published on the 6th of August 2013, the company added. The restructuring of operations aims to improve Finance & Control function’s cost-efficiency through simplifying the ways of working and building the ability to scale to current and future business needs.

Once the planned restructuring is complete, the size of UPM's Finance & Control organization will be about 450 employees.