Operation Negotiations In Glaston's Finnish Units Have Ended

Glaston Oyj Abp

20/11/2019 06:33

Nov 20 (Reuters) - Glaston Oyj Abp  GLA1V.HE :
    * CO-OPERATION NEGOTIATIONS IN GLASTON'S FINNISH UNITS HAVE ENDED
    * GLASTON PLANS TO DECREASE NUMBER OF EMPLOYEES IN FINLAND BY APPROXIMATELY 12 PEOPLE, OUT
OF
WHICH AT MOST 8 EMPLOYMENTS WILL BE TERMINATED
    * MAJORITY OF SAVINGS WILL OCCUR IN 2020.
    * PREVIOUSLY GLASTON HAD ESTIMATED THAT NEGOTIATIONS COULD LEAD TO TERMINATION OF
APPROXIMATELY 20
EMPLOYMENTS
    * MEASURES WILL LEAD TO EARLIER MENTIONED SAVINGS OF EUR 2 MILLION, OUT OF WHICH ABOUT EUR 1
MILLION IS PERMANENT ANNUAL SAVINGS
    * FINNISH OPERATIONS ARE PLANNED TO BE ADAPTED TO DECREASE IN ORDER BOOK FOR HEAT TREATMENT
MACHINES AND THEREBY RESULTING PRODUCTION AND FINANCIAL SITUATION
    * TEMPORARY LAYOFFS FOR ENTIRE FINNISH STAFF ARE PLANNED TO BE CARRIED OUT IN TWO STAGES
STARTING
IN DECEMBER, MAINLY UTILIZING A SHORTER WORKING WEEK
    * AMOUNT OF EXTERNAL WORK WILL ALSO BE MINIMIZED.

Source text for Eikon:  ID:nWkr96jLhs 
Further company coverage:  GLA1V.HE 

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