Vaisala completes the consultation processes
(Thomson Reuters ONE) -
Vaisala Corporation Stock exchange release June 17, 2010 at
12:30 p.m.
The consultation processes with employee representatives in Vaisala,
communicated in May, have been completed in Finland. The company will reduce its
workforce by 73 employees, of which 49 in Finland and 24 in the US. In the UK
the process is still ongoing.
The actions relate to an efficiency program ongoing in the company, to improve
profitability and competitiveness and sharpen the organization to respond to the
needs of the different market segments more efficiently. Savings are achieved
through personnel reductions, reductions in the use of professional services,
more efficient sourcing and reduced travel costs.
The measures agreed in the negotiations are exptected to bring approximately EUR
11 million savings annually, starting in 2011. The related one-off costs are
estimated to be approximately EUR 3 million, booked in the second quarter of
2010.
Vaisala announced the beginning of the consultation processes with a stock
exchange release on May 11, 2010.
Further information:
Jouni Lintunen
CFO
+358 40 5790 181
Distribution:
OMX Nordic Exchange Helsinki
Main media
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