March 19, 2020 / 6:36 AM / 14 days ago

BRIEF-Martela Starts Temporary Layoffs In Finland, Adjusts Operations In Other Countries

March 19 (Reuters) - Martela Corp:

* REG-MARTELA STARTS TEMPORARY LAYOFFS IN FINNISH ENTITIES AND ADJUSTS ITS OPERATIONS IN OTHER COUNTRIES

* NEGATIVE IMPACT OF CORONAVIRUS ON OVERALL MARKET CONDITIONS HAS BEEN SIGNIFICANT

* DURATION OF LAYOFFS VARIES DEPENDING ON BUSINESS AREA AND WORK ASSIGNMENT, UP TO A MAXIMUM OF 90 DAYS

* WILL CONTINUE TO IMPLEMENT ITS PREVIOUSLY ANNOUNCED EUR 4 MILLION SAVINGS PROGRAM AND IMPROVE PRODUCTIVITY.

* IN ADDITION TO THESE LAYOFFS MARTELA WILL ADJUST ITS OPERATIONS ALSO IN OTHER COUNTRIES.

* MARTELA IS ADJUSTING ITS OPERATIONS TO MEET RAPIDLY CHANGED CIRCUMSTANCES AND WILL TEMPORARILY LAY OFF ITS PERSONNEL IN FINLAND Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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