PKC to lay off 128 in Finland

Negotiations were conducted on the basis of employer's initiative made on 19 March 2009, according to which the estimated need for personnel cuts totalled 226. As a result of the negotiations the need for personnel cuts was specified to 128 persons after rearrangement of work and/or reorganisation of operations. The dismissals will be done in two phases, first 87 at the start of May and the rest 41 by the end of September. The realized savings will amount to approximately EUR 5 million from the last quarter of this year. Rationalisation measures lead to approximately EUR 4.5 million in non-recurring expenses for the second quarter on this year. This has no effect on the previously published outlook for the future.