Electronics Production | January 20, 2009
Elcoteq lays off 30 in Finland
The personnel negotiations concerning Elcoteq, Finnish Branch and Elcoteq Finland have been concluded. As a result of these negotiations the companies have decided to make altogether 30 people redundant on financial and production grounds.
Out of the total number, 5 are salaried employees and 25 are senior salaried employees. In the beginning of the negotiations, the estimated total number of reductions was 50. After these decisions and previously announced reductions in Salo will become effective, Elcoteq has approximately 160 employees in Finland. The objective of these measures is to improve the Group's long-term profitability and competitiveness. The personnel negotiations in Finland are part of a restructuring plan announced January 15, 2009 that applies to the entire Group and under which altogether approximately 5,000 persons will be made redundant.