Tikkurila Oyj
Stock Exchange Release
October 28, 2015 at 9 a.m. (CET+1)
Tikkurila has concluded the co-operation negotiations started in September with all of Tikkurila Oyj's personnel in Finland, totaling about 600 persons. As a result of the negotiations, a total of 41 persons, working in various functions of the company, will be dismissed. Of these personnel reductions, 16 employees are white-collar workers and 25 are blue-collar workers.
The negotiations were initially expected to result in the reduction of 100 employees at the most. Tikkurila is supporting the employees affected through trainings and re-employment schemes, among others.
The total number of employees dismissed was clearly lower than originally estimated due to solutions found during the negotiations. The negotiated outcome included an agreement to commence local collective bargaining on flexible working time allowing for seasonal and other factors, and to modify staff remuneration with a view to supporting the company's strategic objectives more effectively.
The personnel reductions and related support activities are estimated to result in non-recurring expenses of some EUR 1.5 million during the financial year 2015. On the other hand, Tikkurila Oyj will change certain benefits related to the duration of the employment by the end of the year, which will decrease future personnel related obligations.
Tikkurila Oyj's Vantaa site produces and sells decorative paints and industrial coatings for both the Finnish market as well as for export to Russia and other countries. About half of Tikkurila Oyj's revenue relates to exports. The target is to adjust the Finnish personnel to fit current volume level, and to find new, more flexible ways to introduce products and services that fit customers' needs. Moreover, the aim is to change operational and organizational structures and to ensure company's cost competitiveness.
Tikkurila Oyj
Erkki Järvinen
For further information, please contact:
Tikkurila Oyj
Anna Saksi, HR Manager, Finland, tel. +358 50 562 1772, anna.saksi@tikkurila.com
Tikkurila is the leading paints and coatings professional in the Nordic region and Russia. With our roots in Finland, we now operate in 16 countries. Our high-quality products and extensive services ensure the best possible user experience in the market. Sustainable beauty since 1862.
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