Elcoteq starts personnel negotiations in Finland

Elcoteq has convened a meeting of the employee representatives of Elcoteq SE, Finnish Branch and Elcoteq Finland Oy for statutory personnel negotiations to address the possible restructuring of the company's activities in Finland and the possibility of temporary lay-offs, semi-retirement or the termination of employee contracts on production or financial grounds. In the negotiations the company will assess the means by which it will ensure the Group's long-term profitability and competitiveness. The company estimates that the need for possible personnel reductions in Finland could apply to at most about 50 people in all employee categories. Elcoteq has currently roughly 21,000 employees worldwide, approximately 180 of whom work in Finland.