EMPLOYEE NEGOTIATIONS CONCLUDED AT TECNOTREE
Tecnomen Lifetree Corporation STOCK EXCHANGE RELEASE
29 September 2009 at 12.00 noon
EMPLOYEE NEGOTIATIONS CONCLUDED AT TECNOTREE
The employee negotiations, started on 31st August 2009, relating to the possible
restructuring of VAS (Value Added Services) business unit and the possible
terminations of employee contracts on production and financial grounds, have
been concluded.
The number of personnel will be reduced in Finland by 20 employees. This and
other cost saving operations will cause over EUR 4 million annual savings and
will have a full impact as from the beginning of 2010. The action taken will
cause costs of some EUR 0.5 million during the third quarter, mainly for
salaries paid for the period of notice.
TECNOMEN LIFETREE CORPORATION
FURTHER INFORMATION
Jarmo Niemi, CEO, tel. +358 400 688 097
DISTRIBUTION
NASDAQ OMX Helsinki Ltd
Main Media
www.tecnotree.com
About Tecnotree
Tecnotree, (Tecnomen Lifetree) founded in 1978, is one of the leading suppliers
of Business and Operations Support Systems (BSS/OSS) and Value Added Services
(VAS) for telecom operators worldwide. Tecnotree markets and sells its products
and services through its own organisation, as well as through global and local
partners, and has supplied its products to more than 120 customers around the
world. Headquartered in Espoo, Finland, Tecnotree has over 800 employees working
in 20 locations worldwide. The company is listed on the main list of NASDAQ OMX
Helsinki Ltd with the trading code TEM1V. For more information on Tecnotree
visit www.tecnotree.com
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