Ad
Ad
Ad
Ad
Ad
Ad
Ad
Ad
© pinonsky-dreamstime.com General | October 14, 2013

Tieto to lay off 770

Tieto will continue with its efficiency improvements as part of its continuous renewal, seeking to improve price competitiveness and to meet its long-term financial targets. Which means, headcount reductions.
Additionally, Tieto needs to address the overcapacity caused by the longer-term decline in the telecom sector. With the actions initiated in 2013, including personnel negotiations started in May and August, Tieto aims at annualized savings of over EUR 50 million.

Tieto aims to reduce up to 770 positions globally, of which up to 455 in its service lines (up to 240 in Managed Services and up to 215 in Consulting and System Integration), up to 205 in Product Development Services and up to 110 in its industry groups and support functions.

The planned reductions affect approximately 350 employees in Finland, 180 in Sweden and 240 in other countries. The reductions are expected to be completed by the end of the first quarter of 2014.

According to local practices in Finland, personnel negotiations will be started in the Managed Services Service Line (up to 170 employees), Product Development Services (up to 90) and the Telecom, Energy and Media industry group (up to 25). The remainder of the reductions are being handled mainly through individual agreements and retirement arrangements.

“The IT industry is in the midst of rapid global change: new technologies, such as cloud computing, and changes in customer requirements drive the rapid modernization of old IT systems to standardized and less labour-intensive solutions,” says Kimmo Alkio, President and CEO for Tieto.

Comments

Please note the following: Critical comments are allowed and even encouraged. Discussions are welcome. Verbal abuse, insults and racist / homophobic remarks are not. Such comments will be removed.
Further details can be found here.
Ad
Ad
Ad
Ad
Load more news
November 14 2017 8:30 PM V8.8.9-1