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2011-11-21 14:30:00 CET 2011-11-21 14:30:04 CET REGULATED INFORMATION Honkarakenne Oyj - Company AnnouncementHONKARAKENNE OYJ TO INITIATE NEGOTIATIONS UNDER THE ACT ON CO-OPERATIONHelsinki, Finland, 2011-11-21 14:30 CET (GLOBE NEWSWIRE) -- HONKARAKENNE OYJ Stock Exchange Release 21 November 2011, 15:30 HONKARAKENNE OYJ TO INITIATE NEGOTIATIONS UNDER THE ACT ON CO-OPERATION WITHIN UNDERTAKINGS Honkarakenne Oyj initiates co-operation negotiations concerning all its personnel in Finland. According to a preliminary estimation by the company, the co-operation negotiations may result both in indefinite lay-offs and temporary lay-offs. The number of persons subjected to indefinite lay-offs is estimated to be 70. For those who are subjected to temporary lay-offs, the lay-offs are estimated to last 90 days at most by the end of September 2012. The lay-off plans concern all personnel groups. The co-operation negotiations which are initiated now continue the company's rationalization measures, with the aim to secure the company's competitiveness despite general economic development, seasonal variation and the development of sales. It is estimated that the co-operation negotiations will be concluded in the beginning of January 2012. HONKARAKENNE OYJ Esa Rautalinko President and CEO Additional information: President and CEO Esa Rautalinko, tel. +358 (0)400 740 997, esa.rautalinko@honka.com or CFO, Mikko Jaskari, tel. +358 (0)400 535 337, mikko.jaskari@honka.com DISTRIBUTION NASDAQ OMX Helsinki Oy Key media Financial Supervisory Authority www.honka.com |
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