March 20, 2020 / 3:49 PM / 19 days ago

BRIEF-Glaston Initiates Negotiations Regarding Temporary Layoffs In Finland

March 20 (Reuters) - Glaston Oyj Abp:

* GLASTON INITIATES EMPLOYEE COOPERATION NEGOTIATIONS REGARDING TEMPORARY LAYOFFS IN FINLAND AND TAKES SIMILAR ACTIONS IN OTHER COUNTRIES

* POTENTIAL LAYOFFS CONCERN ALL EMPLOYEES IN FINLAND, APPROXIMATELY 180 PEOPLE

* NEGOTIATIONS WILL BEGIN ON MARCH 25, 2020 AND WILL LAST FOR UP TO TWO WEEKS

* LAYOFFS ARE PLANNED TO START IMMEDIATELY AFTER CONCLUSION OF NEGOTIATIONS

* TO ACHIEVE NECESSARY LEVEL OF ADJUSTMENT BY USING TEMPORARY LAYOFFS OF AT MOST 90 DAYS PER EMPLOYEE

* NEGOTIATIONS REGARDING SHORT TIME WORK HAVE ALSO BEEN LAUNCHED IN COMPANY’S GERMAN AND SWISS UNITS

* MEASURES ARE DUE TO RAPID CHANGES IN BUSINESS ENVIRONMENT CAUSED BY COVID-19 VIRUS Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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