Operation Negotiations

Pihlajalinna Oyj

15/08/2019 06:08

Aug 15 (Reuters) - Pihlajalinna Oyj  PIHLIS.HE :
    * PIHLAJALINNA COMPLETES CO-OPERATION NEGOTIATIONS
    * NEGOTIATIONS WILL RESULT IN TERMINATING SOME 180
POSITIONS,
MAINLY THROUGH DISMISSALS
    * SOME OF THESE REDUNDANCIES WILL TAKE FORM OF RETIREMENT
AND
OTHER STAFFING REDUCTIONS NOT OFFSET THROUGH REORGANISING
OPERATIONS.
    * EFFICIENCY IMPROVEMENT PROGRAMME IS EXPECTED TO SAVE
APPROXIMATELY EUR 17 MILLION IN COSTS
    * COST SAVINGS AND REDUNDANCIES WILL MAINLY BE REALISED BY
END OF
THIS YEAR, WITH THEIR FULL IMPACT APPARENT IN 2020
    * IMPACT OF SAVINGS IN CURRENT YEAR IS ESTIMATED AT
APPROXIMATELY
EUR 5 MILLION, WITH ADJUSTMENT ITEM OF APPROXIMATELY EUR 8
MILLION RECORDED FOR IMPLEMENTING NEGOTIATED DECISIONS

Source text for Eikon:  ID:nWkrcbcVP6 
Further company coverage:  PIHLIS.HE 

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