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Itella's second set of statutory labor negotiations concluded

31.10.2011

- Number of those permanently laid off clearly smaller than anticipated

The second set of statutory labor negotiations, included in Itella's cost-cutting program of EUR 100 million, has been concluded. Upon the conclusion of the negotiations, the staff reduction need was specified as 253 person-work-years.

These negotiations also found solutions which make the number of those permanently laid off clearly smaller than anticipated. At the start of negotiations, the reduction need was assessed as 430 person-work-years.

The statutory labor negotiations procedure concerned administrative staff who work with headquarters and planning tasks, sales and marketing, IT administration and HR administration as well as part of Itella Information and Logia Software.

Previously in October, Itella concluded its first set of negotiations. It resulted in a staff reduction need of 245 person-work-years, which is also substantially smaller than anticipated.

Itella has a total of about 22,000 employees in Finland. The concluded statutory labor negotiations did not concern mail delivery or sorting. The job reductions mainly concern the capital region.

Further information:
Itella MediaDesk, tel. +358 20 452 3366 (Weekdays from 8:30am to 16:30pm, UTC+2)

Photographs and logos:
www.itella.com/media

Itella Group provides solutions for managing information and product flows. Itella operates in the fields of mail Communications, information logistics, and logistics in Europe and Russia. Net sales in 2010 amounted to EUR 1,842 million. The number of staff is about 28,000. Corporate services are delivered under the Itella brand, while the Posti brand is used for services targeted at consumers in Finland. More information is available online at www.itella.com/group.