Tecnotree starts co-operation negotiations inFinland

Tecnotree Corporation
Stock Exchange Release
10th October 2018 at 10.00 a.m.

Tecnotree starts co-operation negotiations in Finland  

Tecnotree will start co-operation negotiations in Finland regarding the whole personnel with a reduction of maximum thirty positions on financial and productive grounds. The company has worldwide 570 employees of whom 61 work in Finland.

In the frame of the negotiations alternative ways to adjust company’s activities in addition to the staff reductions are also handled.

The objective of the negotiations is to adjust the cost level with the current business situation and to improve our operations in order to match the market demands.

Due to the tight financial situation the aim of Tecnotree is to cut approximately 7 MEUR in 2019 in operational costs. These cost savings will also be realized in 2019.

TECNOTREE CORPORATION

MORE INFORMATION

Padma Ravichander, CEO, tel.+97 156 414 1420
 
  

About Tecnotree
Tecnotree is a global provider of IT solutions for the management of services, products, customers and revenue for Communications Service Providers. Tecnotree helps customers to monetize and transform their business towards a marketplace of digital services. Together with its customers, Tecnotree empowers people to self-serve, engage and take control of their own digital life.

Tecnotree is listed on Nasdaq Helsinki (TEM1V). For more information, please visit www.tecnotree.com.