YIT commences co-operation negotiations in Group support functions, Business premises and Partnership properties segments

YIT Corporation Press release February 4, at 9.00 a.m. 

YIT commences co-operation negotiations concerning white collar employees in Group support functions, Business premises and Partnership properties segments. The estimated number of personnel to be reduced in case of redundancies is at the maximum 40 employees. The potential reduction needs concern Business premises segments and Group support functions.  

Potential reduction needs do not concern white collar employees in production jobs and blue-collar employees at construction sites.  

The target for the plans discussed in co-operation negotiations is to boost business operations and adjust organisation and cost structure to respond to business needs. The co-operation negotiations will start on February 10, 2020.  

“We will continue to strengthen productivity and profitability by reorganizing our operations appropriately. We are planning an operation model, which will support business needs and our company’s future success. We have several challenging urban development projects underway, and we will need diverse construction management and site expertise also in the future”, says Kari Kauniskangas, the President and CEO of YIT. 

YIT employs nearly 5 600 people in Finland. 

For further information, please contact:  
Pii Raulo, Executive Vice President, Human Resources, YIT Corporation, tel. +358 40 572 3568, pii.raulo@yit.fi 
Hanna Malmivaara, Senior Vice President, Communications, YIT Corporation, tel. +358 40 561 6568, hanna.malmivaara@yit.fi  

YIT is the largest Finnish and significant North European construction company. We develop and build apartments and living services, business premises and entire areas. We are also specialised in demanding infrastructure construction and paving. Together with our customers, our nearly 10,000 professionals are creating more functional, more attractive and more sustainable cities and environments. We work in 11 countries: Finland, Russia, Scandinavia, the Baltic States, the Czech Republic, Slovakia and Poland. The new YIT was born when over 100-year-old YIT Corporation and Lemminkäinen Corporation merged on February 1, 2018. Our restated pro forma revenue for 2018 was approximately EUR 3.2 billion. YIT Corporation's share is listed on Nasdaq Helsinki Oy. www.yitgroup.com