Elektrobit rationalises its operations in Finland

EB has decided to terminate the employment contracts of a maximum of 19 employees in its sites in Kajaani and Tampere. For a few employees, EB will alternatively offer new positions in Oulu. With these actions EB will achieve annual cost savings of approximately EUR 1 million, from the beginning of 2015 onwards. Currently, the Wireless Business Segment has 465 employees in Finland. These cost saving actions will cause non-recurring costs of about EUR 0.4 million that will weaken the operating result of the last quarter of 2014.