Brief: Bittium Concludes Change Negotiations

Bittium Oyj

09/10/2023 08:10

Oct 9 (Reuters) - Bittium Oyj  BITTI.HE :
    * BITTIUM CORPORATION'S CHANGE NEGOTIATIONS CONCLUDED
    * CHANGE NEGOTIATIONS CONCERNED ALL BITTIUM CORPORATION'S
SUBSIDIARIES IN FINLAND, AND NEGOTIATIONS COVERED AROUND 600
EMPLOYEES
    * AS A RESULT OF NEGOTIATIONS, MAXIMUM OF 61 EMPLOYEES WILL
BE
DISMISSED AND MAXIMUM OF 8 EMPLOYEES WILL BE TEMPORARILY LAID
OFF DUE TO FINANCIAL AND PRODUCTION-RELATED REASONS AS WELL AS
FOR REASONS RELATED TO REORGANIZATION OF CO'S OPERATIONS
    * WITH DISMISSALS AND LAYOFFS, IF IMPLEMENTED IN FULL, AND
WITH
OTHER COST SAVING MEASURES DISCLOSED IN AUGUST, BITTIUM
ESTIMATES TO ACHIEVE ABOUT EUR 6.0 MILLION ANNUAL COST SAVINGS,
FROM WHICH EUR 0.8 MILLION WILL REALIZE DURING 2023
    * ANNUAL COST SAVINGS OF EUR 6.0 MILLION COMPANY ESTIMATES
TO
ACHIEVE IN 2024 IN FULL

Source text for Eikon:  ID:nWkr3TbkBP 
Further company coverage:  BITTI.HE 

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