Talentum Oyj - Company Announcement

TALENTUM’S NEGOTIATIONS WITH EMPLOYEE REPRESENTATIVES CONCLUDED

Helsinki, Finland, 2012-03-21 10:00 CET (GLOBE NEWSWIRE) -- TALENTUM OYJ       
  COMPANY ANNOUNCEMENT MARCH 21, 2012 AT 11.00 am 

TALENTUM'S NEGOTIATIONS WITH EMPLOYEE REPRESENTATIVES CONCLUDED

Talentum's negotiations with employee representatives to reduce personnel,
disclosed in a stock exchange release on January 30, 2012, have been concluded.
The negotiations concerned employees of Talentum Oyj and Talentum Media Oy in
Finland, and Talentum magazine publishing in Sweden, approximately 330
employees. 

In order to adapt business operations and costs Talentum will cut staff in
publishing Finland, parent company and magazine publishing in Sweden by 40 full
time equivalents by terminating their contracts of employment and through other
schemes, as well as other cost cutting measures. The measures taken will cut
costs of permanent nature in the Talentum Group on yearly level by
approximately EUR 4.5 million, and they are estimated to realise in full by the
end of 2012. 

The personnel arrangements will incur extraordinary expenses, which will be
disclosed in the interim report. 

The purpose of these actions is to ensure Talentum's competitive strength and
profitability. 

TALENTUM OYJ
Aarne Aktan
CEO

Further information
CEO Aarne Aktan, tel. +358 40 342 4440

Distribution
NASDAQ OMX Helsinki
Principal media