SSAB subsidiary Ruukki Construction has unveiled plans to decrease approximately 200 positions within its operations and operating countries.

Ruukki's personnel will be told in greater detail about this move once the country-specific plans are put into effect.

Ruukki currently has roughly 1,500 employees in the Nordics, Baltics, and Central and Eastern Europe regions.

The decision is part of its strategy to adjust operations accordingly in response to the weak demand prevailing in the construction market.

According to Ruukki, the market conditions in all ten of its operating countries have been weak, and there are no indications of any improvements in the short-term future.

Meanwhile, the company aims to establish conditions for it to implement its long-term growth strategy.

Both measures will help generate approximately €15m in annual cost savings.

Ruukki plans to implement the measures by the end of this year.

Ruukki president Sami Eronen said: “Demand for building products is weak in all of our operating countries.

“In order to ensure our competitiveness in this difficult market situation, we have to adjust our cost structure in all countries. However, we will continue to execute our long-term strategy.”

This month, Ruukki announced a pilot of fossil-free steel in its building products, which was held in collaboration with a select group of customers.