STOCK EXCHANGE RELEASE 11 Jun 2009
Pöyry has completed statutory negotiations related to the restructuring of the Forest Industry business group
PÖYRY PLC Company Announcement 11 June 2009 at 9.00 a.m.
The statutory employee negotiations that started in April in the Forest Industry business group's units based in Finland have been concluded. Due to the reorganisation the business group will permanently lay off about 100 people in Finland at this stage. The remaining staff in Pöyry Industry Oy, Finland, may be laid off temporarily until further notice. In addition, temporary lay-offs may lead to permanent lay-offs, affecting a maximum of 150 people. Part of the capacity reduction will be implemented through pension arrangements.
In 2009 adaptation measures have also been implemented in Sweden, North America and Russia with a reduction equalling the capacity of about 200 people.
The non-recurring cost effect of adjusting the capacity in the Forest Industry business group with the above-mentioned measures is estimated to amount to EUR 2.5 million, which will be booked in the second-quarter results.
President and CEO
Deputy to President and CEO
Additional information by:
Esa Ikäheimonen, CFO, Pöyry PLC
Tel. +358 10 33 21586
Company Announcement on 24 April 2009
NASDAQ OMX Helsinki