Helsinki, Finland, 2011-09-27 08:00 CEST (GLOBE NEWSWIRE) --
TECTIA CORPORATION COMPANY ANNOUNCEMENT SEPTEMBER 27, 2011 AT 09:00 A.M
EMPLOYER/EMPLOYEE NEGOTIATIONS AT TECTIA CONCLUDED
The negotiations between Tectia Corporation and its employees concerning to finalize the structural change have been concluded. As a result of the said negotiation process Company’s personnel will be reduced by seven persons.
The employer/employee negotiations were carried out on the basis of employer’s negotiation proposal made on September 14, 2011. The negotiations applied to the whole functions at Finland that employed 45 persons.
With these measures the Company believes that it can achieve EUR 0.8 million annual savings to its operating expenses.
Helsinki, September 27th 2011
TECTIA CORPORATION
Board of Directors
For further information, please contact:
Tatu Ylönen, CEO. tel. +358 20 500 7000
Mikko Karvinen, CFO & Deputy Managing Director. tel. +358 50 326 4101
Distribution:
NASDAQ OMX Helsinki Ltd.
Major media
www.tectia.com