Brief: Tulikivi to cut costs, 12 employees to lay off
11/05/2015 13:45
May 11 (Reuters) - Tulikivi Oyj TULAV.HE :
* Will be cutting fixed costs due to level of demand being
weaker than anticipated.
* Decision was taken to lay off 12 office employees until
further notice.
* Temporary layoffs will also be made within company.
* Outcome of codetermination negotiations: savings of 0.5
million euros ($557,500)in staff costs
* Says cost savings will be introduced in 2015 and will
consist of cuts in operations and savings in fixed staff costs
* Says savings in fixed staff costs will be about 0.8
million euros
* Says full effect of these savings will be realized in 2016
Source text for Eikon: ID:nHSU5QJ6
Further company coverage: TULAV.HE
($1 = 0.8969 euros)
(Gdynia Newsroom)
((gdynia.newsroom@thomsonreuters.com; +48 58 698 3920;))