Tecnotree completes co-operation negotiations in Finland

Tecnotree Corporation
Stock Exchange Release
19 November 2018 at 9.00 am EEST

Tecnotree completes co-operation negotiations in Finland

The co-operation negotiations started on the10th October, 2018 have been completed. The negotiations concerned the whole personnel in Finland.

The personnel reduction in Finland will be in total 26 employees of which 16 via lay-offs and 10 via other measures. These measures will lead to EUR 2 million cost savings per annum and will be realized in full in the year of 2019.

TECNOTREE CORPORATION


FURTHER INFORMATION
Padma Ravichander, CEO, tel. +971 56 414 1420

About Tecnotree
Tecnotree is a global provider of telecom IT solutions for the management of products, customers and revenue. Tecnotree helps communications service providers to transform their business towards a marketplace of digital services. Tecnotree empowers service providers to monetise service bundles, provide personalised user experiences and augment value throughout the customer lifecycle. With around  600 telecom experts, Tecnotree serves around 90 service providers in around 70 countries. Tecnotree is listed on the main list of NASDAQ Helsinki with the trading code TEM1V. For more information on Tecnotree, please visit www.tecnotree.com