The statutory negotiations have now ended at Konecranes Plc and Konecranes Finance Corporation. The companies will reduce their personnel by a total of 21 temporary and permanent employees. There will be no temporary layoffs. The reductions will be made during the last quarter of 2009.
Due to the lower level of orders received during the first half of 2009, Konecranes Plc and Konecranes Finance Corporation started statutory negotiations on September 1, 2009. Both companies are based in Hyvinkää and represent headquarter functions, which include IT, R&D, marketing & communications, legal, financial, HR and procurement. The aim was to further adjust the companies’ cost structures and resources to correspond with the current, weak market situation and to secure future competitiveness. The statutory negotiations targeted all personnel, a total of 189 persons.
Konecranes has already adjusted its capacity. In the second-quarter 2009 interim report, Konecranes reported a reduction of 850 persons from year-end 2008. The company also estimated that the number of employees would further decrease by 750 persons during the latter part of 2009. The statutory negotiations at headquarters are part of this reduction.
Additional information:
Press
Mikael Wegmüller, Director, Marketing and Communications, Konecranes Plc
Email: [email protected], or tel. +358 20 427 2008
Investors and analysts:
Sanna Päiväniemi, Investor Relations Manager, Konecranes Plc
Email: [email protected], or tel. +358 20 427 2050
This press release is available on our website www.konecranes.com
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 and machine tools of all makes. In 2008, Group sales totaled EUR 2,103 million. The Group has 9,700 employees, at 485 locations in 43 countries. Konecranes is listed on the NASDAQ OMX Helsinki Ltd (symbol: KCR1V).
