Helsinki, Finland, 2012-03-21 10:00 CET (GLOBE NEWSWIRE) -- TALENTUM OYJ COMPANY ANNOUNCEMENT MARCH 21, 2012 AT 11.00 am
TALENTUM’S NEGOTIATIONS WITH EMPLOYEE REPRESENTATIVES CONCLUDED
Talentum’s negotiations with employee representatives to reduce personnel, disclosed in a stock exchange release on January 30, 2012, have been concluded. The negotiations concerned employees of Talentum Oyj and Talentum Media Oy in Finland, and Talentum magazine publishing in Sweden, approximately 330 employees.
In order to adapt business operations and costs Talentum will cut staff in publishing Finland, parent company and magazine publishing in Sweden by 40 full time equivalents by terminating their contracts of employment and through other schemes, as well as other cost cutting measures. The measures taken will cut costs of permanent nature in the Talentum Group on yearly level by approximately EUR 4.5 million, and they are estimated to realise in full by the end of 2012.
The personnel arrangements will incur extraordinary expenses, which will be disclosed in the interim report.
The purpose of these actions is to ensure Talentum’s competitive strength and profitability.
TALENTUM OYJ
Aarne Aktan
CEO
Further information
CEO Aarne Aktan, tel. +358 40 342 4440
Distribution
NASDAQ OMX Helsinki
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