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Lemminkainen Oyj Concludes Personnel Negotiations in Finland and Lays Off Employees

Monday, 30 Sep 2013 02:00am EDT 

Lemminkainen Oyj announced that the personnel negotiations that covered the entire Lemminkainen Group in Finland and other countries of operation were now concluded in Finland. As a result, Lemminkainen will cut a maximum of 265 man-years from its Finnish operations. The personnel reductions will be realized through termination of employment contracts, temporary lay-offs, discontinuation of fixed-term contracts or normal retirement, resignations and other potential voluntary arrangements. The reductions will take place gradually by the end of April 2014. The exact reduction rates from each site will be fully clear only after this. The measures decided in the personnel negotiations were a response to the Company's need to improve its efficiency and competitiveness. The negotiations are part of Lemminkainen's efficiency program that aims to achieve cost savings of EUR 30 million. In addition to personnel reductions, the Company is working to alleviate the impact of seasonal variation in the paving and aggregate business on profitability and will reduce its network of sites. Corresponding negotiations on the reduction of personnel are carried out in Lemminkainen's other countries of operation. These negotiations are still ongoing, and their progress will be communicated in conjunction with the Company‚Äôs interim reports. 

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