It plans to cut more than 200 jobs by the end of next year as part of a cost-reduction program to deal with "weak performance and low demand."

Finnish plumbing and heating supplier Uponor announced last week it plans to cut more than 200 jobs around the world by the end of next year as part of a cost-reduction program to deal with "weak performance and low demand." Uponor recently reported net sales for the second quarter fell by 7.4% compared to last year's results during the same period. The company currently employs some 4,200 people.