Ixonos' co-operation negotiations have concluded

Helsinki, Finland, 2011-06-01 08:00 CEST (GLOBE NEWSWIRE) -- Ixonos Plc          Stock Exchange Release          1 June 2011 at 9:00


IXONOS' CO-OPERATION NEGOTIATIONS HAVE CONCLUDED

Ixonos Plc has completed the co-operation negotiations regarding its personnel in Finland that begun on 19 April 2011.

The goal of the negotiations was to adjust the company’s cost structure to the decelerated growth as well as to improve the company’s ability to maintain the best possible profitability.

As an outcome of the negotiations, 8 employees in total will be made redundant in the Ixonos Group’s administrative and business support functions. Additionally, no new employees will be hired to replace the employees who have left the company voluntarily, by resigning or for family leaves.

The company will also close down the production of mobile device R&D services in its offices in Salo and Turku in phases by the end of 2011. The planned reductions in these offices include 21 employees in total, unless the employees can be reassigned to other units at Ixonos.

14 employees who were within the scope of the co-operation negotiations are being reassigned to new positions within the Group. The company is preparing for the deceleration of growth also by preparing to lay off no more than 50 employees if needed by the beginning of September 2011.

These actions will not interrupt the delivery of services for Ixonos' customers.

Ixonos’ entire personnel in Finland were in the scope of the negotiations, with the exception of the personnel of Ixonos Business Solutions Ltd. The negotiations were estimated to impact no more than 100 people in the Group’s administration, support functions, sales and service production as well as mobile device R&D service production in Salo and Turku. The company published a stock exchange release about the commencement of the co-operation negotiations on 19 April 2011.


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

Distribution:
NASDAQ OMX Helsinki
Main media