EMPLOYEE NEGOTIATIONS CONCLUDED AT TECNOMEN
Tecnomen Corporation STOCK EXCHANGE RELEASE
27 September 2006 at 10.15 a.m.
EMPLOYEE NEGOTIATIONS CONCLUDED AT TECNOMEN
The employee negotiations relating to the programme of remedial action initiated
by Tecnomen have been concluded. Through this programme and at the same time by
simplifying its organization structure, Tecnomen is adjusting to the prevailing
market situation and improving its competitive standing.
Tecnomen will reduce the volume of subcontracting and cut the number of personnel
by 29 primarily through redundancies. The personnel reductions will mainly take
place in sales and support functions in Europe and in the Messaging business in
Finland and Germany. The annual savings will be more than EUR 4 million and will
have a full impact as from the beginning of 2007. The action taken will cause
costs of some EUR 1 million during the final part of this year, mainly for
salaries paid for the period of notice.
TECNOMEN CORPORATION
Jarmo Niemi
President and CEO
FURTHER INFORMATION
Jarmo Niemi, President and CEO, tel. +358 (0)9 8047 8799
DISTRIBUTION
Helsinki Exchanges
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