Vaisala Completes the Consultation Processes
The consultation processes with employee representatives in Vaisala, communicated in May, have been completed in Finland. The company will reduce its workforce by 73 employees, of which 49 in Finland and 24 in the US. In the UK the process is still ongoing.
The actions relate to an efficiency program ongoing in the company, to improve profitability and competitiveness and sharpen the organization to respond to the needs of the different market segments more efficiently. Savings are achieved through personnel reductions, reductions in the use of professional services, more efficient sourcing and reduced travel costs.
The measures agreed in the negotiations are exptected to bring approximately EUR 11 million savings annually, starting in 2011. The related one-off costs are estimated to be approximately EUR 3 million, booked in the second quarter of 2010.
Vaisala announced the beginning of the consultation processes with a stock exchange release on May 11, 2010.
