STATUTORY NEGOTIATIONS COMPLETED AT KONECRANES IN FINLAND
The statutory negotiations have now ended at Konecranes in Finland. As a result of the negotiations, Konecranes will permanently lay off 51 employees in Finland. Temporary layoffs will take place according to need within Konecranes Finland Oy and Konecranes Service Oy. The permanent layoffs will be completed by the end of the first quarter of 2014. Konecranes currently employs some 12,000 persons in 48 countries and around 2,000 persons in Finland.
Konecranes Plc, Konecranes Finland Oy and Konecranes Service Oy started statutory negotiations in Finland on August 15, 2013. The negotiations were part of the measures mentioned in the Konecranes stock exchange release dated July 24, 2013, which announced that the company would reduce its annual cost base by EUR 30 million by the end of 2014.
In addition to the 51 permanent layoffs, Konecranes will as a result of the negotiations reduce the use of temporary and hired personnel, and has agreed on early retirements. The total impact will be to reduce the number of personnel by approximately 80 persons. The personnel reductions will be completed by the end of 2014.
Additionally, Konecranes Service Oy and Konecranes Finland Oy have agreed on temporary layoffs to be carried out according to need. In Konecranes Service Oy they will be carried out by the end of June 2014 and in Konecranes Finland by the end of August 2014.
The aim of these measures is to adjust the company’s cost structure and capacity and bring it in line with the current, weakened market situation and to secure Konecranes’ future competitiveness. The actions being considered are globally expected to affect a maximum of 600 people through redundancies, temporary layoffs and early retirement.
Additional information:
Press
Mikael Wegmüller, Vice President, Marketing & Communications
Email: mikael.wegmüller@konecranes.com, or tel. +358 20 427 2008
Investors and analysts:
Miikka Kinnunen, Director, Investor Relations
Email: miikka.kinnunen@konecranes.com, or tel. +358 20 427 2050
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 2012, Group sales totaled EUR 2,170 million. The Group has 11,900 employees, at 626 locations in 48 countries. Konecranes is listed on NASDAQ OMX Helsinki (symbol: KCR1V).