Tieto Oyj - Company Announcement

Tieto concludes personnel negotiations in Finland

Tieto Corporation STOCK EXCHANGE RELEASE 7 May 2012, 1.15 pm EET

In March, Tieto announced Group-wide personnel adjustments. In Finland, the
related personnel negotiations have now been concluded. Redundancies in Finland
will be executed in two phases. The first phase will be started immediately and
during the autumn 2012, Tieto will initiate the second phase covering job cuts
related to the decisions about the company's new operating structure. 

In the first phase, the company will make a total of 210 redundant by the end
of June. In addition, the number of positions will decrease by around 90,
including natural attrition and retirements. In the second phase, a maximum of
additional 200 job cuts, mainly related to the company's new operating
structure and the target of improving the efficiency of operations, will be
completed by early 2013. 

The negotiations concluded today in Finland are part of the earlier announced
programme aiming to achieve around EUR 50 million in annual savings. The
programme includes about 1 300 job cuts of which close to 500 in Finland, close
to 300 in Sweden and around 500 in other countries. 

“We have set ourselves the target of building an ever more competitive Tieto
and laying a strong foundation for the future through profitable operations.
Naturally, carrying out such restructuring activities is challenging in the
short term. However, with a more competitive cost structure, we will ensure our
ability to develop Tieto further and fulfil our commitment to implement our
recently launched strategy,” says Lasse Heinonen, CFO. 

For further information, please contact:

Ari Karppinen, Executive Vice President, Operations and Managed Services and
Transformation Business Line, tel. +358 207 271137, ari.karppinen (at)
tieto.com 

Lasse Heinonen, CFO, tel. +358 207 266329, lasse.heinonen (at) tieto.com

Media contact:

Mira Iso-Markku, Director, Marketing & Communications, Finland
tel. +358 207 271278, mobile +358 400 416 662, mira.iso-markku (at) tieto.com



TIETO CORPORATION

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Tieto is the leading IT service company in Northern Europe providing IT and
product engineering services. Our highly specialized IT solutions and services
complemented by a strong technology platform create tangible business benefits
for our local and global customers. As a trusted transformation partner, we are
close to our customers and understand their unique needs. With about 18 000
experts, we aim to become a leading service integrator creating the best
service experience in IT. www.tieto.com