BIOHIT'S CO-DETERMINATION NEGOTIATIONS HAVE ENDED
BIOHIT OYJ STOCK EXCHANGE RELEASE, 29 AUGUST 2008 AT 2:45 PM
BIOHIT'S CO-DETERMINATION NEGOTIATIONS HAVE ENDED
In June 2008, Biohit launched co-determination negotiations as part of its
measures to improve profitability. These negotiations ended today, and the
company has decided to implement its planned personnel cost savings with
lay-offs.
The measures will affect both Biohit personnel and leased employees: Biohit will
temporarily reduce the number of leased employees by ten and lay off ten of its
own employees. The personnel reductions will primarily affect those working for
the parent company in the diagnostics business or in production and logistics in
the liquid handling business. Some of the lay-offs will be implemented using
part-time employment contracts. Lay-offs will begin in September and remain in
force until further notice.
At the beginning of June, Biohit launched a savings and operational efficiency
programme to improve the profitability of the entire group. The estimated need
for lay-offs was 21 employees.
Biohit is also reducing other fixed costs both in the parent company and
subsidiaries. The company will continue to develop the diagnostics business in
spite of the personnel reductions.
Osmo Suovaniemi
President and CEO
Biohit Oyj
Further information:
Osmo Suovaniemi, M.D., Ph.D., Professor
President & CEO
Tel: +358-9-773 861
GSM: +358-40-745 5605
E-mail: osmo.suovaniemi@biohit.com
Distribution:
Helsinki Stock Exchange
Central storage facility (www.oam.fi)
Principal media
www.biohit.com
About Biohit Oyj:
Biohit Oyj is a Finnish company that develops, manufactures and markets liquid
handling products and diagnostic tests and analysis systems for use in research,
healthcare and industrial laboratories.
The liquid handling range includes electronic and mechanical pipettes,
disposable tips, and pipette maintenance and calibration services. The
diagnostics business comprises products and analysis systems for the diagnosis,
screening and prevention of gastrointestinal diseases (such as the blood sample
based GastroPanel and GastroView for diagnosing diseases of the stomach and
associated risks, as well as quick tests for the diagnosis of lactose
intolerance and H. pylori infection).
Approximately 370 people work for the Biohit Group in eight countries. Biohit
Oyj is headquartered in Helsinki, Finland. The company has subsidiaries in
France, Germany, the UK, Russia, China, Japan and the USA. Biohit's products are
also sold by approximately 450 distributors in 70 countries. Biohit Oyj's series
B shares are quoted on the Helsinki Stock Exchange (OMX Nordic Exchange
Helsinki) in the Small cap/Healthcare group under the code BIOBV.
Read more at www.biohit.com