More than 350 Konecranes employees could lose their jobs if market demand drops this year.

Konecranes announced on 3 January that it was restructuring and would start statutory negotiations with staff in Finland. The negotiations have ended.

As a result of the negotiations, 20 employees AT Konecranes Finland Oy will be permanently laid off, nine temporarily employed workers will not have their contracts renewed, rental workers will lose their jobs and, should the factory operate below capacity, 350 employees could lose their jobs temporarily.

Demand for new equipment is rising in the world's emerging markets. Konecranes' industrial cranes business unit is reorganising globally into larger sales areas. Consequently, industrial crane manufacturing will be discontinued in Hyvinkää, Finland.

Hyvinkää will remain the main location for component manufacturing for heavy-duty industrial cranes and port cranes.

In Finland, Konecranes employs about 2,000 people, of which approximately 1,200 are in Hyvinkää.

In 2012, group sales totaled EUR 2.170 billion (USD2.831 billion). The Group has 12,100 employees at 626 locations in 48 countries. Konecranes is listed on NASDAQ OMX Helsinki.