Drastic staff cuts planned at Fennovvoima

28 June 2022

Finnish company Fennovoima has said that as a result of negotiations, which began on 10 May, it will significantly reduce its operations. Staff terminations, which will be implemented during 2022, will reduce the number of employees from 356 to less than 10 by the beginning of 2023.

In May, Fennovoima withdrew the construction licence application for the Hanhikivi 1. Earlier, Fennovoima terminated the EPC contract concluded with the Russian plant supplier RAOS Project citing significant delays and inability to deliver the project and to mitigate the risks related to the war in Ukraine. Fennovoima has also terminated the agreement with Rosatom subsidiary TVEL for the fuel delivery.

“We all joined Fennovoima to deliver the project and to build this nuclear power plant for the good of Finland.” said CEO Joachim Specht. “The fact that we had to abandon the project was unfortunately inevitable and I know that all of us are affected by this decision and yes, we all feel sadness and sorrow that it had come to an end. I want to thank everyone in Fennovoima for their commitment, dedication and professional attitude and I am sure you all will find successfully new challenges accompanied with my best wishes.”

In 2023, Fennovoima will focus on maintaining the Hanhikivi 1 construction site and preparing for probable legal processes related to the termination of the EPC contract with the plant supplier.

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