Lehto’s employee cooperation negotiations have been completed
Lehto Group Plc
Stock exchange release
7 November, 2019 at 8.05 a.m.
Lehto Group has completed the employee co-operation negotiations launched in September. Negotiations were conducted to improve the company’s profitability and to adjust its personnel and factory capacity to the current need.
As a result of negotiations Lehto will execute redundancies, part-time employment contracts and lay-offs that correspond approximately 144 man years and they are estimated to generate annual cost savings close to EUR 7 million. Most of the measures are taken in factory production, where a total of 100 man-years are laid off this and following year.
The negotiations concerned almost all the units in Finland and approximately 540 persons in total. The Housing service area with its pipeline renovation business and Insinööritoimisto Mäkeläinen Oy were excluded from the negotiations. In the Business Premises service area negotiations concerned only remaining complete renovation activities.
Mr Kaarle Törrönen
Vice President, Human Resources, Lehto Group Plc
Tel. +358 50 437 0060