Teleste commences change negotiations
Teleste initiates change negotiations at its operations in Finland as it looks to adjusts its operations and improve its profitability.
The company states in a press release that the negotiations may result in personnel reductions, including permanent redundancies, temporary lay-offs or part-time employment.
The reason behind these adjustments is said to be the market outlook for the rest of 2023 and early 2024 – combined with increased corporate costs.
"The planned actions aim to adjust operating expenses in line with the short-term market situation, whilst securing longer-term profitability and growth intentions," the company writes.
These negotiations include all Teleste Oyj employees at all of its locations in Finland. The company says that it estimates a total of 25 permanent redundancies, as well as potential temporary lay-offs.