Konecranes concludes cooperation negotiations in Finland in its Industrial Equipment business area

Konecranes has concluded cooperation negotiations with Finnish works council representatives for its Industrial Equipment business area. The negotiations were started in September due to the longstanding poor performance of the Engineer-to-Order (ETO) crane business and generally weak and uncertain market demand.

At the start of negotiations, the estimated reduction need in Finland was 25 employees in Hyvinkää and 30 in Hämeenlinna. Following constructive discussions with employee representatives, the number of full-time positions to be reduced in Hyvinkää will be 13, and in Hämeenlinna it will be 4. Konecranes will also take additional steps to reduce its use of external labour, not renew fixed-term contracts and agree some pension arrangements.

In addition, Konecranes has agreed with Finnish employee representatives that temporary layoffs for all Industrial Equipment-related operations in Finland will remain an option through the end of 2021 in the event of lower workloads.

Negotiations in Germany, which were also announced in September, are proceeding as per local regulations.

Further information: 
Asko Torkki, Konecranes Finland Managing Director and VP, Finance, Industrial Equipment
Email: [email protected] or phone: +358 40 764 5165

Konecranes is a world-leading group of Lifting Businesses™, serving a broad range of customers, including manufacturing and process industries, shipyards, ports and terminals. Konecranes provides productivity enhancing lifting solutions as well as services for lifting equipment of all makes. In 2019, Group sales totaled EUR 3.33 billion. Including MHE-Demag, the Group has around 17,000 employees in 50 countries. Konecranes shares are listed on the Nasdaq Helsinki (symbol: KCR).