Elcoteq shed 120 in Finland

The negotiations will address the possible restructuring of the operations of these units, as well as the possible consequent temporary layoffs, the changing of employment relationships to part-time contracts or the termination of employment contracts on production or financial grounds. In the negotiations the company will assess the means for assuring the long-term competitiveness and profitability of the units. The negotiations apply to employees of the above-mentioned units in Espoo, Lohja, Salo and Turku in Finland. The company estimates that the possible actions would affect at most approximately 120 people. Elcoteq has currently roughly 20,000 employees worldwide, approximately 870 of whom work in the company's units in Finland.