Glaston Corporation's statutory employer-employee negotiations under the Act of Co-Determination within Undertakings in Finland (YT negotiations) initiated on 13 November 2012, have been concluded. As a result of the negotiation process and previous actions, the reduction in personnel is approximately 20 employees, the majority of them white-collar employees. As a principal rule the personnel reductions will commence immediately.
Based on the work load situation in 2013 Glaston Finland also prepares to use temporary lay-offs.
Glaston has ongoing efficiency measures also in other locations. The largest adjustment measures are focused on Brazil, where negotiations on efficiency increasing actions will be completed during January 2013. Personnel in Brazil is reduced with a little less than 30 persons.
The adjustment program will give cost savings of around EUR 5 million per year, occuring in full by the end of year 2013.
At the end of September 2012, Glaston’s Continuing Operations had a total of 624 persons, of whom 150 worked in Finland.
