Electronics Production | January 16, 2009
Okmetic cuts staff
Finland based wafer maker Okmetic Oyj initiates personnel negotiations in accordance with the Finnish Act on Cooperation within Undertakings in Finland today.
The negotiations aim to secure the company's profitability in the weakened market situation that currently prevails in the semiconductor industry in particular, by cutting personnel costs and fixed costs. The negotiations involve all personnel and the proposed actions include adjustments to workforce and working hours. Similar measures will also be instigated in the company's American subsidiary. Of Okmetic's personnel, 319 are located in Finland, 36 in the US and 4 in Japan. Okmetic will also adjust its ongoing investment programme to the prevailing market situation.