HONKARAKENNE OYJ Stock Exchange Release 22 June 2016 at 4:30 p.m.
NEGOTIATIONS CONCLUDED UNDER THE ACT ON CO-OPERATION WITHIN UNDERTAKINGS
In May Honkarakenne Oyj initiated an efficiency programme which aims to achieve one and a half million euro savings in fixed costs and adjust the variable costs according to the changed view in net sales.
Related to this efficiency programme Honkarakenne Oyj has concluded negotiations under the act on co-operation within undertakings concerning all personnel in Finland.
As a result Honkarakenne can lay-off clerical and managerial employees temporarily maximum 90 days and blue-collar workers will work under reduced working hours. The lay-off plan is effective until 31 March 2017 for white-collars and until 31 May for blue-collar workers.
HONKARAKENNE OYJ
Marko Saarelainen
President and CEO
FURTHER INFORMATION:
Marko Saarelainen, President and CEO, tel. +358 40 542 0254,
marko.saarelainen@honka.com or
Mikko Jaskari, CFO, tel. +358 400 535 337, mikko.jaskari@honka.com
DISTRIBUTION
NASDAQ OMX Helsinki
Key media
Financial Supervisory Authority
www.honka.com