Wartsila CEO says ship unit job cuts enough for now

Finnish engineering firm Wartsila (WRT1V.HE) has no plans at the moment to cut more jobs at its hard-hit Ship Power unit, its chief executive said on Wednesday. The firm said in May it would cut 400-450 jobs at the division, around one third of the total workforce, due to a sharp fall in demand, and on Wednesday it forecast the standstill in the market to last for “quite some time”.