EB, ELEKTROBIT CORPORATION STARTS PERSONNEL NEGOTIATIONS IN FINLAND TO DISMISS OR TEMPORARILY DISMISS APPROXIMATELY 150 EMPLOYEES MAXIMUM
(Thomson Reuters ONE) -
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Free for publication on October 28, 2010, at 08:30 am (CEST+1)
EB, ELEKTROBIT CORPORATION STARTS PERSONNEL NEGOTIATIONS IN FINLAND TO DISMISS
OR TEMPORARILY DISMISS APPROXIMATELY 150 EMPLOYEES MAXIMUM
In order to improve its profitability and to adjust the number of personnel to
the lower sales volumes EB, Elektrobit Corporation has today started personnel
negotiations based on financial and production related reasons. The negotiations
concern the whole personnel and all functions of EB's subsidiary Elektrobit
Wireless Communications Oy and Elektrobit Corporation (Oyj) in Finland,
altogether approximately 500 employees.
EB proposes to dismiss or temporarily dismiss approximately 150 employees
maximum in Wireless Solutions business and EB corporate functions. Targeted cost
savings resulting from these measures would be EUR 4 million by the end of the
first half of 2011. These measures are not expected to have material effect on
the result for the second half of 2010.
EB's outlook for the second half of 2010 according to the announcement of
October 25, 2010:
"Considering the current estimated implications of TerreStar Networks' filing
for reorganization for EB's profit and financial position in the third quarter
of 2010, as well as on the outlook for the parties' business relations during
the last quarter, EB expects that net sales for the second half of 2010 will be
higher than in the second half of 2009 (EUR 73.6 million) and operating profit
for the second half of 2010, without the statutory provision of EUR 8.3 million,
will be clearly lower than the operating profit for the second half of 2009 (0.0
million). The weakening operating profit level is mainly due to lowered
TerreStar Networks related net sales estimates. It is possible that, based on
later information related to TerreStar Networks' reorganization, this outlook
may need to be reconsidered."
Oulu, October 28, 2010
Elektrobit Corporation
Jukka Harju
CEO
Further information:
Jukka Harju
Chief Executive Officer
Tel. +358 40 344 5466
Distribution:
NASDAQ OMX Helsinki
Principal media
EB, Elektrobit Corporation
EB develops advanced technology and transforms it into enriching end user
experiences. EB specializes in demanding embedded software and hardware
solutions for the automotive industry and wireless technologies. The company's
net sales for the year 2009 totaled EUR 153.8 million. Elektrobit Corporation is
listed on the NASDAQ OMX Helsinki.www.elektrobit.com
[HUG#1456344]
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Source: Elektrobit Oyj via Thomson Reuters ONE
Unternehmensinformation / Kurzprofil:
Datum: 28.10.2010 - 07:31 Uhr
Sprache: Deutsch
News-ID 46786
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contact information:
Town:
Oulu
Kategorie:
Business News
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