Agreement reached in Lemminkäinen's co-determination negotiations
Press release 10.11.2010
Lmminkäinen’s on-going co-determination negotiations concerning salaried staff reductions have now been concluded. As a result of the negotiations, downsizing at Lemminkäinen Corporation will result in the loss of 50 permanent positions. Approximately 50 other salaried positions will be eliminated with the natural expiration of fixed-term employment contracts and through voluntary retirement and other arrangements. Part of the personnel reductions will be implemented immediately and the remainder during the course of 2011.
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Lemminkäinen Group operates in all areas of the construction sector. The Group's business sectors are Building Construction, Infrastructure Construction, Technical Building Services, and Building Products. Net sales in 2009 were approx. EUR 2.0 billion, of which international operations accounted for over a quarter. The Group employs about 8,600 people. Lemminkäinen Corporation's share is quoted on NASDAQ OMX Helsinki Ltd. www.lemminkainen.com