KONECRANES STARTS STATUTORY NEGOTIATIONS IN HEADQUARTER FUNCTIONS IN HYVINKÄÄ
Konecranes starts statutory negotiations in headquarter functions in Hyvinkää
Due to weak demand for maintenance service and lifting equipment, Konecranes
has taken various steps in 2009 to adjust its capacity and costs globally.
During the first half of 2009, orders received were 41 percent lower than in
the same period of 2008. Consequently, Konecranes will start statutory
negotiations regarding possible temporary and permanent layoffs within
Konecranes Plc and Konecranes Finance Corporation. It is estimated that the
possible permanent personnel reductions will affect at most 10-15 employees in
Finland.
The statutory negotiations now initiated target all personnel, a total of 189
persons, of Konecranes Plc and Konecranes Finance Corporation. Both companies
are based in Hyvinkää and represent headquarter functions, which include IT,
R&D, marketing & communications, legal, financial, HR and procurement. In
addition to possible temporary and permanent layoffs, Konecranes is taking
additional actions to save costs, including reducing the purchasing of external
services and products.
The aim of the measures is to further adjust the companies' cost structures and
resources to correspond with the current, weak market situation and to secure
future competitiveness.
Konecranes has already adjusted its capacity. In the second quarter interim
report 2009 Konecranes reported a reduction of 850 persons from year-end 2008.
The company also estimated that the number of employees would further decrease
by 750 persons during the latter part of 2009. The statutory negotiations at
headquarters are part of this decrease.
Additional information:
Press
Mikael Wegmüller, Director, Marketing and Communications, Konecranes Plc
Email: mikael.wegmuller@konecranes.com, or tel. +358 20 427 2008
Investors and analysts:
Sanna Päiväniemi, Investor Relations Manager, Konecranes Plc
Email: sanna.paivaniemi@konecranes.com, or tel. +358 20 427 2050
This press release is available on our website www.konecranes.com
Konecranes is a world-leading group of Lifting Businesses™, serving a broad
range of customers, including manufacturing and process industries, shipyards,
ports and terminals. Konecranes provides productivity-enhancing lifting
solutions as well as services for lifting equipment and machine tools of all
makes. In 2008, Group sales totaled EUR 2,103 million. The Group has 9,700
employees, at 485 locations in 43 countries. Konecranes is listed on the NASDAQ
OMX Helsinki Ltd (symbol: KCR1V).
www.konecranes.com