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Provider: Reuters Investment Profile
Provider: Directors Deals Ltd.
Provider: Wright Reports
Provider: Wright Reports

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Trainers House Oyj Concludes Codetermination Negotiations; to Cut Jobs

Monday, 11 Feb 2013 01:00am EST 

Trainers House Oyj announced that it has concluded the codetermination negotiations concerning the whole group initiated in January 2013. As a result of the negotiations, a total of nine employment contracts in the Group will be terminated. The Group will save approximately EUR 0.9 million annually due to personnel reductions and rationalization. The savings will be realized in full during the third quarter of 2013. The non-recurring costs of personnel reductions and estimated other costs of the restructuring are approximately EUR 0.1 million and will be booked in the first quarter's reporting.