19.12.2008; 09:30
Lassila & Tikanoja (L&T) is adapting its business operations to meet the changed market situation. The main focus will be on cutting fixed costs. Several means will be used to reach improved productivity. As a part of the adaptation measures, the company is initiating cooperation procedures.
According to present assessments, effects on personnel may involve some 70 persons. Adaptation measures are ongoing in our companies outside Finland as well.
”L&T is basically operating in a fairly short-cycled market. During the past few weeks, however, exceptionally fast changes have taken place with regard to the general economic situation and this reflects on us via our customers. Most likely we will not be able to avoid redundancies, but in cooperation with our personnel, we will primarily attempt to identify other solutions. This may involve rearrangement of work tasks, lay-offs or part-time employment”, says Jari Sarjo, President and CEO.
The cooperation procedures are estimated to continue at least until February 9, 2009.
Additional information:
Jari Sarjo, President and CEO, L&T, tel. +358 10 636 2810