Glaston Corporation's employee co-operation negotiations in Finland completed
Glaston Corporation Stock Exchange Release 16.12.2010 at 11.40
Glaston Corporation's employee co-operation negotiations in Finland completed
Glaston Corporation's statutory employer-employee negotiations under the Act of Co-Determination within Undertakings in Finland (YT negotiations) initiated on 3 December 2010, have been concluded. As a result of the negotiation process, approximately 25 employees will be laid off, the majority of them senior white-collar employees. In addition, Glaston will set up a global technology and design centre in Tianjin, China, and the possible effects on personnel in Finland will be determined during the first six months of 2011. Additionally, the temporary lay-offs will continue in 2011. As a principal rule the personnel reductions will commence immediately.
Glaston has ongoing efficiency measures globally. The largest adjustment measures are focused on Italy, where negotiations regarding a reduction of approximately 40 jobs are initiated today. In addition, towards the end of the year, personnel reductions will take place in the European regional organisation, where the transition to a distributor- and agent-based operating model will lead to the termination of 25 employment contracts.
For further information:
CEO&President Arto Metsänen,
phone +358 10 5006100.
Distribution: Helsinki Stock Exchange, key media
Glaston Corporation
Glaston Corporation is an international glass technology company.Glaston is the global market leader in glass processing machines, and a comprehensive One-Stop-Partner supplier to its customers.Its product range and service network are the widest in the industry.Glaston's well–known brands are Bavelloni in pre-processing machines and tools, Tamglass and Uniglass in safety glass machines, and Albat+Wirsam in glass industry software.
Glaston's share (GLA1V) is listed on the NASDAQ OMX Helsinki Mid Cap List.
CEO&President Arto Metsänen,
phone +358 10 5006100