Elektrobit Oyj: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis.
Provider: Reuters Investment Profile
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Elektrobit Oyj Plans Layoffs in Wireless Business Segment and Starts Personnel Negotiations in Finland
Elektrobit Oyj announced that it has decided to start measures to improve its cost structure in Wireless Business Segment. These actions target at EUR 2 million annual cost savings in order to better align the operations with the current business requirements. The actions are expected to cause approximately EUR 1 million non- recurring costs in the first quarter of 2013. As part of the measures to improve the cost structure, the Company plans to reduce its personnel in the Wireless Business Segment globally by approximately 30 persons in total. Hence, Elektrobit will start personnel negotiations in Finland to dismiss maximum of nine persons. Employees working full time in customer projects are excluded from these personnel negotiations. Elektrobit will also concentrate some of its Wireless Business Segment operations to Finland and move the center of its United States operations from west coast to east coast, where many of the public sector customers are located. On February 15, 2013 Wireless Business Segment employed 575 persons in total.
Latest Developments for Elektrobit Oyj
- Elektrobit Oyj temporarily lays off 90 employees at the maximum, targeting cost savings of about 0.8 mln euros in Wireless Business Segment
- Elektrobit Oyj starts personnel negotiations to temporarily lay off 90 employees at the maximum, targeting cost savings of about 0.8 million euros in its Wireless Business Segment
- Elektrobit Oyj comments on FY 2014 outlook
- Elektrobit issues FY 2014 outlook in line with analysts' estimates
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