The employee negotiations relating to the programme of remedial action initiated by Tecnomen have been concluded. Through this programme and at the same time by simplifying its organization structure, Tecnomen is adjusting to the prevailing market situation and improving its competitive standing.
Tecnomen will reduce the volume of subcontracting and cut the number of personnel by 29 primarily through redundancies. The personnel reductions will mainly take place in sales and support functions in Europe and in the Messaging business in Finland and Germany. The annual savings will be more than EUR 4 million and will have a full impact as from the beginning of 2007. The action taken will cause costs of some EUR 1 million during the final part of this year, mainly for salaries paid for the period of notice.
TECNOMEN CORPORATION
Jarmo Niemi
President and CEO
FURTHER INFORMATION
Jarmo Niemi, President and CEO, tel. +358 (0)9 8047 8799
DISTRIBUTION
Helsinki Exchanges
Main Media