Glaston initiates employee cooperation negotiations regarding temporary layoffs in Finland and takes similar actions in other countries

Glaston Corporation                  Inside information                      March 20, 2020 at 17.40

Glaston Corporation initiates eemployee cooperation negotiations regarding possible temporary lay-offs layoffs in its Finnish units. The potential layoffs concern all employees in Finland, approximately 180 people. The plan is to achieve the necessary level of adjustment by using temporary layoffs of at most 90 days per employee. Potential layoffs are designed to be up to 90 days per employee. Negotiations will begin on March 25, 2020 and will last for up to two weeks. The layoffs are planned to start immediately after the conclusion of the negotiations and will be implemented in stages according to the workload.

Negotiations regarding short time work have also been launched in the company's German and Swiss units and adjustment measures will be taken in other units according to need. All of the above measures are due to the rapid changes in the business environment caused by the COVID-19 virus and the mobility restrictions caused by the virus, which in our estimation will also affect the amount of work involved in certain activities.

“Due to the coronavirus situation, there have been rapid changes in our business environment and, at the same time, restrictions on mobility due to the virus also affect the amount of work involved in certain activities. Changes in demand are difficult to assess at the moment, but by reorganizing work and teleworking, we aim to mitigate potential personnel impacts,” says Arto Metsänen.

Glaston Corporation Abp

For more information:

CFO Päivi Lindqvist, tel. + 358 10 500 500

Joséphine Mickwitz, Vice President, IR, Communications and Marketing, tel. +358 10 500 5070

Glaston Corporation

Glaston is the glass processing industry’s innovative technology leader supplying equipment, services and solutions to the architectural, automotive, solar and appliance industries. The company also supports the development of emerging technologies integrating intelligence to glass.

As of April 2019, Bystronic glass is part of Glaston Group. Together we are committed to providing our clients with both the best know-how and the latest technologies in glass processing, with the purpose of building a better tomorrow through safer, smarter, and more energy efficient glass solutions. We operate globally with manufacturing, services and sales offices in 11 countries. Glaston’s shares (GLA1V) are listed on Nasdaq Helsinki Ltd.  
 

Distribution: Nasdaq Helsinki, key media, www.glaston.net