ROBIT PLC PRESS RELEASE 25 MARCH 2020 AT 14.15
ROBIT INITIATES EMPLOYEE COOPERATION NEGOTIATIONS REGARDING LAYOFFS IN FINLAND
Robit initiates employee cooperation negotiations regarding possible lay-offs due to the effects of coronavirus. The procedure will cover all of the company’s personnel in Finland, a total of approximately 65 people from all employee groups. The possible layoffs will be temporary and have a maximum duration of 90 days. In addition to Finland, measures will also be taken as required in the company’s units abroad.
“Forecasting the changes in the demand for our products and business prospects is currently difficult due to the uncertainty created by coronavirus. Robit is preparing itself however, for a possible decline in demand caused by the pandemic. Changes in the business environment caused by the pandemic might adversely influence on the availability of raw materials and components as well as logistics, and therefore slow down the normal progress of work,” says CEO Tommi Lehtonen.
The employee cooperation procedure will start on 27 March 2020 and last for two weeks at most. The exact number of layoffs and their length and form will be determined during the procedure.
Robit Plc
Tommi Lehtonen, CEO
For further information, please contact:
Tommi Lehtonen, CEO
Tel. +358 40 724 9143
tommi.lehtonen@robitgroup.com
Robit is a strongly internationalized growth company servicing global customers and selling drilling consumables for applications in mining, construction and contracting, tunneling and well drilling. The company's offering is divided into two product and service ranges: Top Hammer and Down-the-Hole. Robit has 13 of its own sales and service points throughout the world as well as an active sales network in 115 countries. Robit’s manufacturing units are located in Finland, South Korea, Australia and the UK. Robit’s shares are listed on NASDAQ Helsinki Ltd. Further information is available at: www.robitgroup.com
DISTRIBUTION:
NASDAQ Helsinki
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www.robitgroup.com
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