Tecnomen Lifetree Corporation STOCK EXCHANGE RELEASE
6 October 2009 at 7.00 pm
TECNOTREE TO START PERSONNEL CONSULTATION IN IRELAND
Tecnotree announces that it is considering a proposed reduction in its workforce
in the Irish subsidiary Tecnotree Ltd based in Shannon, County Clare, due to
reduction in demand and global economic conditions. Current estimates expect a
personnel reduction in Ireland of up to 80 personnel.
The situation is therefore one of potential collective redundancies and the
company, with a view to reaching an agreement, will begin a consultation process
over the coming days with the representatives of the employees for 30 days as
required under The Protection of Employment Acts 1977 to 2007 and Redundancy
Payments Acts 1967 to 2007.
TECNOMEN LIFETREE CORPORATION
FURTHER INFORMATION
Eero Mertano, Interim President and CEO, tel. +358 50 5354 970
Liam Keane, Deputy Managing Director, Tecnotree Ltd, tel. +353 61702200
DISTRIBUTION
NASDAQ OMX Helsinki Ltd
Main Media
www.tecnotree.com
About Tecnotree
Tecnotree, (Tecnomen Lifetree) founded in 1978, is one of the leading suppliers
of Business and Operations Support Systems (BSS/OSS) and Value Added Services
(VAS) for telecom operators worldwide. Tecnotree markets and sells its products
and services through its own organisation, as well as through global and local
partners, and has supplied its products to more than 120 customers around the
world. Headquartered in Espoo, Finland, Tecnotree has over 800 employees working
in 20 locations worldwide. The company is listed on the main list of NASDAQ OMX
Helsinki Ltd with the trading code TEM1V. For more information on Tecnotree
visit www.tecnotree.com