Brief: Martela Starts Cost Savings Program, Up To 50 Employees To Lay Off

Martela Oyj

03/06/2019 13:05

June 3 (Reuters) - Martela Oyj  MARAS.HE :
    * REG-MARTELA CORPORATION STARTS EUR 4 MILLION COST
EFFICIENCY
PROGRAM
    * PLANNED ACTION CAN LEAD TO MAXIMUM REDUCTION OF 50 PERSONS
AND/OR TO LAY-OFFS OF PERSONNEL FOR A MAXIMUM OF 90 DAYS
    * PLANNED SAVINGS WILL START TO MATERIALIZE GRADUALLY FROM
BEGINNING OF 2020 AND WILL HAVE FULL IMPACT BY Q1 OF 2021
    * PLANNED PERSONNEL ADJUSTMENTS CONCERNS GROUP COMPANIES IN
FINLAND EXCEPT SUBSIDIARY KIDEX OY
    * PURPOSE OF PLANNED ACTIONS IS TO ALIGN COMPANY'S COST BASE
TO
MEET CURRENT MARKET CONDITIONS AND TO SECURE SET PROFITABILITY
TARGETS
    * TARGET FOR COST EFFICIENCY PROGRAM IS TO REACH EUR 4
MILLION
ANNUAL SAVINGS

Source text for Eikon:  ID:nGNE8GbFzp 
Further company coverage:  MARAS.HE 

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