Teleste to initiate co-determination negotiations

Written by Customer Service on . Posted in Public Companies.

TELESTE CORPORATION   INVESTOR NEWS    2.3.2020   AT 14:10 EETTELESTE TO INITIATE CO-DETERMINATION NEGOTIATIONS
Teleste Corporation will initiate co-determination negotiations in accordance with the Act on Co-operation within Undertakings in order to adapt its operations. The negotiations may lead to possible redundancies, temporary lay-offs and part-time employment contracts due to production and financial reasons.
The reason for the adjustments is the ongoing technological transformation in the Network Products business area that has led to decreased demand for traditional access network products, as stated in the 2019 financial statement release. This change decreases the related capacity need in production and supporting functions. According to our estimate, the deliveries of distributed access architecture products will commence during the second half of 2020. However, the production of these new products does not require a corresponding amount of production capacity.The negotiations will concern HFC business unit employees in Teleste Corporation’s Operations, Logistics and Sourcing and customer support department at the Littoinen plant in Finland. The potential need for personnel reductions is estimated to maximum 35 people.The negotiations will aim to find solutions for adapting Teleste’s operations to the technological transformation in the market situation without endangering the company’s growth opportunities.
TELESTE CORPORATIONJukka Rinnevaara
CEOADDITIONAL INFORMATION: Jukka Rinnevaara, tel. +358 2 2605 611DISTRIBUTION:
Main Media
www.teleste.com

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Cookie Notice

We use cookies to improve your experience on our website

Information we collect about your use of Goldea Capital website

Goldea Capital website collects personal data about visitors to its website.

When someone visits our websites, we use a third party service, Google Analytics, to collect standard internet log information (such as IP address and type of browser they’re using) and details of visitor behavior patterns. We do this to allow us to keep track of the number of visitors to the various parts of the sites and understand how our website is used. We do not make any attempt to find out the identities or nature of those visiting our websites. We won’t share your information with any other organizations for marketing, market research or commercial purposes and we don’t pass on your details to other websites.

Use of cookies
Cookies are small text files that are placed on your computer or other device by websites that you visit. They are widely used to make websites work, or work more efficiently, as well as to provide information to the owners of the site.