Brief: Valoe Adjusts Operations With Temporary Layoffs

Valoe Oyj

20/03/2023 10:16

March 20 (Reuters) - Valoe Oyj  VALOE.HE :
    * THE RESULT OF THE CHANGE NEGOTIATIONS AT VALOE: THE
COMPANY
ADJUSTS ITS OPERATIONS WITH TEMPORARY LAYOFFS
    * WILL LAY OFF ITS STAFF FULL-TIME AND PART-TIME FOR A
MAXIMUM OF
90 DAYS
    * MEASURES WILL START IMMEDIATELY AND GENERATE SAVINGS OF
AROUND
EUR 0.3 MILLION IN Q2
    * THERE WILL BE NO REDUNDANCIES
    * ESTIMATES THAT SHORT-TERM LAYOFFS ARE SUFFICIENT TO ADJUST
COMPANY'S OPERATIONS IN NEXT FEW MONTHS, AFTER WHICH COMPANY
EXPECTS ITS ORDER BOOK TO GROW
    * IS NEGOTIATING WITH SONO MOTORS TO CONTINUE COOPERATION
    * VALOE ALSO HAS ONGOING NEGOTIATIONS WITH EXISTING AND NEW
CUSTOMERS FOR NEW ORDERS AND EXPANDING EXISTING PROJECTS

Source text for Eikon:  ID:nGNE70f5dy 
Further company coverage:  VALOE.HE 

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