Helsinki, Finland, 2012-02-14 15:00 CET (GLOBE NEWSWIRE) --
Ixonos Plc Stock Exchange Release 14 February 2012 at 16:00
IXONOS HAS CONCLUDED CO-OPERATION NEGOTIATIONS
Ixonos Plc has completed the co-operation negotiations regarding its personnel in Finland that begun on 3 January 2012.
The demand for Ixonos’ Symbian and MeeGo R&D and software development services provided for Nokia Plc has reduced significantly in the turn of the year, and the demand is not expected to return to past levels. The goal of the negotiations has been to find means to adjust the company’s cost structure to the changed situation in order to secure the company’s competitiveness.
As an outcome of the negotiations, not more than 136 employees of Ixonos Plc or its Finnish subsidiaries will be made redundant or temporarily laid-off by the end of June 2012. Additionally, other saving and rationalisation measures will be conducted within the Group.
The rationalisation of operations is expected to create monthly savings of approximately EUR 1.0 million starting from June of the ongoing financial year.
The negotiations applied to Ixonos Group’s personnel in Finland. The actions were estimated to impact 150 people at the most. The company published a stock exchange release about the commencement of the co-operation negotiations on 3 January 2012.
IXONOS PLC
Kari Happonen
President and CEO
For more information, please contact:
Ixonos Plc, Kari Happonen, CEO, tel. +358 400 700 761, kari.happonen@ixonos.com
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NASDAQ OMX Helsinki
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