Elcoteq plans to restructure its operations and commences co-operation negotiations in Finland
Elcoteq plans to restructure its operations to adjust the company’s cost structure to the current business volumes and to improve profitability.
Elcoteq has today convened a meeting of the employee representatives of Elcoteq SE Finnish Branch, Elcoteq Finland Oy and Elcoteq Design Center Oy for statutory personnel negotiations. The negotiations will address the restructuring of the company’s activities in Finland and the possibility of temporary lay-offs, shifting to part-time works or the termination of employee contracts on production or financial grounds. The personnel negotiations are estimated to impact Elcoteq’s entire personnel in Finland.
Besides Finland, similar reorganization of operations and rationalization procedures are being discussed in certain other Elcoteq locations.
With the restructuring plan, the company targets to achieve signficant annual fixed cost savings.
Elcoteq SE is the global Life Cycle Service Partner for high-tech product and service companies. Elcoteq has a proven track record in electronics manufacturing and after market services and a global service network close to its customers coupled with modern manufacturing and testing equipment and consistent systems and processes.
Elcoteq’s Electronics Manufacturing Services (EMS) Business Segment provides its customers globally with engineering, manufacturing and fulfillment services. EMS products include mobile phones and their accessories, set-top boxes, LED lighting products, flat panel TVs, infrastructure systems and other industrial segment products.
Elcoteq’s After Market Services (AMS) Business Segment is providing its customers in the communications and consumer electronics industries with global reverse logistics, depot repair, refurbishment, recycling and salvage services but also AMS specific engineering and customer support services.
Elcoteq SE is listed on the NASDAQ OMX Helsinki Ltd. For more information visit the Elcoteq website at www.elcoteq.com
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