Brief: Glaston Takes Actions To Adapt To Continued Weak Demand In Heat Treatment And Automotive

Glaston Oyj Abp

27/10/2020 12:10

Oct 27 (Reuters) - Glaston Oyj Abp  GLA1V.HE :
    * GLASTON TAKES ACTIONS TO ADAPT TO CONTINUED WEAK DEMAND IN HEAT TREATMENT AND AUTOMOTIVE &
ET -
CO-OPERATION NEGOTIATIONS IN FINNISH UNITS INITIATED, ACTIONS IN OTHER UNITS CONTINUE
    * GLASTON OYJ ABP - INITIATES CO-OPERATION NEGOTIATIONS CONCERNING MEASURES TO ADAPT ITS
OPERATIONS TO LOWER THAN EXPECTED DEMAND
    * GLASTON OYJ ABP - CO-OPERATION NEGOTIATIONS COVER ALL COMPANIES IN FINLAND, AND CONCERN
BOTH
TEMPORARY LAY-OFFS AND TERMINATION OF EMPLOYMENT CONTRACTS.
    * GLASTON OYJ ABP - GLASTON ESTIMATES THAT NEGOTIATIONS COULD LEAD TO TERMINATION OF UP TO
20
EMPLOYMENT CONTRACTS.
    * GLASTON OYJ ABP - AT END OF SEPTEMBER, GLASTON EMPLOYED 180 EMPLOYEES IN ITS UNITS IN
FINLAND.
    * GLASTON OYJ ABP - MEASURES MENTIONED ABOVE, IN COMBINATION WITH OTHER PROFITABILITY
IMPROVING
ACTIONS, TARGET SAVINGS OF APPROXIMATELY EUR 1.5 MILLION.
    * GLASTON OYJ ABP - CO-OPERATION NEGOTIATIONS ARE EXPECTED TO BE CONCLUDED BY MID-DECEMBER.

Source text for Eikon:  ID:nWkr7cRtxc 
Further company coverage:  GLA1V.HE 

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