STOCK EXCHANGE RELEASE 19 Mar 2009
Pöyry has completed statutory employee negotiations in Finland
PÖYRY PLC Company Announcement 19 March 2009 at 9.00 a.m.
Adaptation measures in Pöyry's Forest Industry and Construction Services business groups are proceeding. The statutory employee negotiations started in January in the units based in Finland have been completed. Based on the negotiations, the Forest Industry business group will at this stage lay off about 100 people permanently and a maximum of 300 people temporarily until further notice. The temporary lay-offs, part of which will be part-time, will be implemented in stages, beginning in March. The Construction Services business group will lay off about 30 people permanently and a maximum of 200 people temporarily until further notice. The temporary lay-offs, part of which will be part-time, will be implemented in stages, beginning in March. Ultimately, the need for capacity adjustment will depend on the number of people retiring with a statutory employment pension. The non-recurring cost effect of adjusting the capacity in Finland with the above-mentioned measures is estimated to amount to EUR 3.5 million, of which about EUR 3 million is expected to be booked in the first-quarter results.
Adaptation measures started in January in the Forest Industry business group's Brazilian unit are in progress. The capacity will be adjusted to correspond to the current order stock with a reduction equalling the capacity of about 250 people. Adaptation measures are also ongoing in other countries where the Forest Industry business group is operating. In North America the working week has been shortened, among other measures. In addition, local negotiations regarding adjustment measures have been started in Sweden.
President and CEO
Deputy to President and CEO
Additional information by:
Heikki Malinen, President and CEO, Pöyry PLC
Tel. +358 10 33 21307
Teuvo Salminen, Deputy to President and CEO, Pöyry PLC
Tel. +358 10 33 22872
Satu Perälampi, Vice President, Corporate Communications and IR, Pöyry PLC
Tel. +358 10 33 23002
Company Announcement on 13 January 2009
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