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Teleste Oyj Completes Co-Determination Negotiations and Lays Off Employees


Wednesday, 7 Nov 2012 05:00am EST 

Teleste Oyj announced that the Teleste negotiations have been concluded. As an outcome of these co-determination negotiations, at the first stage, the Company's Finnish personnel will be laid off for three weeks by the end of March 2013. This lay-off involves approximately 375 people. The co-determination negotiations also led to three notices of termination. The need for additional lay-offs will be reviewed as required by the market situation. In combination with cost cuts, the agreed measures are designed to adapt Teleste's operations to the difficult-to-predict market situation without compromising the favorable growth potential. 

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4.58
-0.05 -1.08%
31 Jul 2014