Given the business disruption caused by the spread of the novel coronavirus disease (COVID-19), Konecranes today has invited Finnish works council representatives to negotiations regarding temporary layoffs which would cover all of Konecranes’ Finnish operations, some 2,000 employees in total.
Due to the pandemic, countries around the world have imposed extensive restrictions on the daily conduct of people and businesses. As a result, many of Konecranes’ customers are limiting access to their premises, affecting Konecranes’ ability to complete the installation of new equipment and perform certain service operations. Moreover, Konecranes’ own manufacturing operations have been impacted by the significant and increasing measures to contain the pandemic. Reflecting this development, on March 26 Konecranes updated its demand outlook and withdrew its financial guidance for full-year 2020.
In starting discussions in Finland, Konecranes seeks to explore all possible temporary measures to adjust costs to the uncertain global business environment. The company cannot estimate at this stage what those measures will ultimately be, but the period of temporary layoffs would be up to 90 days at most. In addition to Finland, Konecranes has already been active in reducing costs across the full scope of the company’s global operations.
Konecranes is fully focused on ensuring the health and safety of its employees and serving its customers worldwide, some of which play critical roles in ensuring the uninterrupted flow of food, medical supplies and other fundamentally important materials needed during this crisis. More information on the company’s COVID-19 response can be found here.
Further information:
Niina Suhonen, Director, Group Communications
Email: [email protected] or phone: +358 40 843 9438
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 18,000 employees in 50 countries. Konecranes shares are listed on the Nasdaq Helsinki (symbol: KCR).
