Mercer International (MERC) plans to reduce its overall workforce by 350 positions, the company said in a regulatory filing on Tuesday.

Mercer said it has been impacted by ongoing uncertainty in the global economy, as well as increased raw material and energy costs.

The process will start with an initial reduction of 100 contractor positions this month, the company said.

The workforce reduction is expected to be completed in stages by Q2 of next year, it said.