Trainer's House Oyj - Company Announcement

Trainers' House starts codetermination negotiations

Espoo, 2013-08-05 08:35 CEST (GLOBE NEWSWIRE) -- TRAINERS' HOUSE PLC, STOCK
EXCHANGE RELEASE, 5 AUGUST 2013 AT 9:35 

Trainers' House starts codetermination negotiations concerning its project
managers in order to adjust its business operations to correspond to the
current demand and the current scope of the group's operations. 

Trainers' House currently employs 26 project managers. The need for cost
savings is especially due to the fact that the scope of the group's business
operations has diminished and redirection the offering. Other personnel groups
of the group are not included in the scope of the codetermination negotiations. 

Trainers' House aims at cost savings of approximately EUR 0.2 million on an
annual level. The cost savings will primarily be sought from other sources than
through reduction of personnel, but based on the company's preliminary estimate
it is possible that the reorganizations may potentially also lead to a
reduction of less than 10 persons in total. The aim of the codetermination
negotiations is to find alternative solutions to possible layoffs, to seek
alternative sources of cost savings and to explore other alternatives which
could reduce the amount of the possible personnel reductions and to minimize
the consequences for the personnel. "Trainers' House's business operations are experiencing a period of significant
change. We estimate that in the future demand will be directed to our services
related to implementation of change. In the codetermination negotiations we are
seeking to explore alternatives to enhance the efficiency of our operational
functions." states CEO Arto Heimonen. 


TRAINERS' HOUSE PLC
Board of Directors

FURTHER INFORMATION
Arto Heimonen, tel. +358 40 412 3456
CEO

DISTRIBUTION
NASDAQ OMX Helsinki Oy
Main media
www.trainershouse.fi

Attachments:

Porssitiedote 2013_08_05 ENG.pdf