Elektrobit Group Oyj - EB, ELEKTROBIT CORPORATION, REDUCES ITS PERSONNEL IN WIRELESS BUSINESS
December 17, 2008
EB, ELEKTROBIT CORPORATION, REDUCES ITS PERSONNEL IN WIRELESS BUSINESS
STOCK EXCHANGE RELEASE
Free for publication on December 17, 2008, at 9.00 am (CET+1)
EB, ELEKTROBIT CORPORATION, REDUCES ITS PERSONNEL IN WIRELESS BUSINESS
EB, Elektrobit Corporation announced on November 20, 2008 that it will reduce its personnel working in wireless business in Finland. As a result of the personnel negotiations concluded on December 17, 2008, 57 jobs will be reduced. The reductions concern EB's offices in Espoo, Oulu, Oulunsalo and Tampere. The amount of employees given a notice decreased from the earlier announced 80 employees mainly due to the decision to temporarily dismiss employees in Wireless Communications Tools in Finland for maximum 6 weeks during the first half of 2009.
The reduction of the personnel in wireless business is part of EB's actions to improve the profitability and adjust its cost structure. The company's target is to achieve EUR 40 million annual cost savings compared to the first half of 2008. EB has earlier announced a plan to make reduction of approximately 170 employees globally by the end of the first half of 2009.
December 17, 2008
EB, Elektrobit Corporation
Pertti Korhonen
CEO
Further information:
Pertti Korhonen
CEO
Tel. + 358 40 344 5466
Ritva-Liisa Niskanen
Senior Vice President, Human Resources
Tel. +358 40 344 2858
DISTRIBUTION:
NASDAQ OMX Helsinki Ltd.
Main media
EB, Elektrobit Corporation
EB develops advanced technology and transforms it into enriching end user experiences. EB specializes in demanding embedded software and hardware solutions for the automotive industry and wireless technologies. The company's net sales for the year 2007 totaled EUR 144.3 million. Elektrobit Corporation is listed on NASDAQ OMX Helsinki Ltd.
www.elektrobit.com
