Tieto’s personnel negotiations in Finland concluded

In CSI, the renewal of the company’s competence base is ongoing to align it with the changes in market demand. Based on the negotiations, the service line is anticipated to cut 90 positions, most of which comprise redundancies to be implemented by the end of September. Around 10 of reductions may be implemented as temporary layoffs. Initially, the reduction need was estimated at 110 employees. In Product Development Services, demand has remained weak and the negotiations were concluded according to the initial proposal. A maximum of 70 employees will be made redundant or laid off. The redundancies will be implemented by the end of October. The reductions will mainly affect the Helsinki metropolitan area and Tampere. In other locations, only individual reductions will be implemented. The negotiations are part of the restructuring measures communicated in the first-quarter interim report. Tieto’s objective is to improve its competitiveness and drive service and competence renewal.