Elektrobit Group Oyj - EB'S, ELEKTROBIT CORPORATION, PERSONNEL NEGOTIATIONS CONCLUDED
May 08, 2008
EB'S, ELEKTROBIT CORPORATION, PERSONNEL NEGOTIATIONS CONCLUDED
EB initiated the personnel negotiations in March relating to the Wireless Communication Tools ("WCT") and Radio Network Solutions ("RNS") businesses in Finland. Personnel negotiations have been concluded on May 8, 2008.
EB will renounce the main part of the production activities of the WCT business. EB intends to acquire this activity not belonging to its core businesses from external partners. However, the final assembly, configuration and testing operations of the WCT products will be maintained in EB. Therefore, as a result of the personnel negotiations in WCT, 40 jobs will be cut out. When initiating the negotiations, EB estimated that approximately 50 employees mainly in Oulunsalo would be affected by the reductions. Due to internal transfers to the other businesses and personnel's attrition, the total number of affected personnel came down during the negotiation process.
Due to the weaker than expected demand and due to strong price competition in the R&D services provided by the RNS business, EB started personnel negotiations also relating to the RNS business. As a result, 19 jobs will be cut out. When initiating the negotiations, EB estimated that approximately 40 employees mainly in Oulu and Kajaani would be affected by the reductions. Due to internal transfers to the other businesses and from administrative work to more customers focused tasks as well as due to personnel's attrition, the total number of affected personnel came down during the negotiation process.
EB announced to initiate to the personnel negotiations on March 27, 2008 as a part it's rearrangements in Finland.
May 8, 2008
Elektrobit Corporation
Pertti Korhonen
CEO
Further information:
Pertti Korhonen
CEO
Tel. +358 40 344 5148
Panu Miettinen
CFO
Tel. +358 40 344 5338
DISTRIBUTION:
OMX Nordic Exchange Helsinki
Principal media
EB, Elektrobit Corporation
EB creates advanced technology and turns it into enriching end-user experiences. EB is specialised in demanding embedded software and hardware solutions for automotive and wireless industries. The net sales for the year 2007 totalled MEUR 144.3. Elektrobit Corporation is listed on Nordic Exchange Helsinki.
www.elektrobit.com
