YIT’s change negotiations in Finland completed

YIT Corporation Investor News 18 December 2023 at 11:00 a.m.

YIT’s change negotiations in Finland completed

YIT has completed the change negotiations in Finland concerning salaried and senior salaried employees working in the Housing, Business Premises and Infrastructure segments in Finland.  YIT planned changes in the Business Premises segment’s operating model and organisation structure. In addition, the company considered continuing to adapt its operations in Finland due to the market situation in the construction sector.

The new organisational structure will be effective as of 1 January 2024. YIT estimated earlier that the planned changes could result in a reduction of approximately 90 jobs at most in Finland. As a result of the negotiations, approximately 50 jobs will be reduced in Finland. In addition to the personnel reductions, the company will implement temporary layoffs in Finland.

The changes are a part of the Transformation Program YIT launched in February 2023 to improve the company’s performance and competitiveness.

Further information:
YIT’s Corporate communications, tel. +358 44 743 7536, press@yit.fi

Distribution: Nasdaq Helsinki, major media, www.yitgroup.com

YIT is the largest Finnish and a significant North European development and construction company. We develop and build sustainable living environments: functional homes, future-proof public and commercial buildings, infrastructure for smooth mobility, and renewable energy solutions to benefit the climate. We employ around 5,000 professionals in nine countries: Finland, Sweden, Norway, Estonia, Latvia, Lithuania, the Czech Republic, Slovakia and Poland. Our revenue in 2022 was EUR 2.4 billion. YIT Corporation's share is listed on Nasdaq Helsinki. Read more: www.yitgroup.com