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Exel Composites Oyj Concludes Co-Determination Negotiations at Joensuu Unit; to Cut up to Nine Jobs


Friday, 23 Nov 2012 01:30am EST 

Exel Composites Oyj announced that co-determination negotiations concerning the Joensuu unit of the Company have been concluded. The negotiations were based on the employer's negotiation proposal. The negotiations concerned the non-salaried employees of the Joensuu unit. It was estimated that a maximum of nine employment contracts be terminated. No employment contracts will be terminated as a result of the negotiations. The necessary cost savings will be achieved by laying off the personnel group in question for a maximum of 90 days. The Company also announced that the development of the market situation is monitored at all times in the Company and if necessary, measures will be taken rapidly. 

Company Quote

6.31
-0.15 -2.32%
10 Jul 2014