Tieto continues to drive its efficiency measures by starting personnel negotiations in Finland
Tieto continues its earlier announced measures to improve internal efficiency and to meet its long term financial targets. As part of the actions, Tieto starts personnel negotiations to reduce up to 135 positions in Finland in Managed Services, Product Development Services and Administrative Services unit in Support functions. Additionally, there are individual processes on-going in Sweden and in other countries aiming to reduce up to 35 positions in Sweden and a total of 100 in China, the Czech Republic and Poland.
“Today’s announcement is a continuation of our objective to drive efficiency and ensure price competitiveness in our business areas. In parallel, we are investing in new technologies, process automation and global delivery capabilities”, says Kimmo Alkio, President and CEO.
As Tieto has earlier communicated the restructuring costs in 2013 are expected to be around half of the previous year’s level (EUR 57 million in 2012). In addition to the now announced process, Tieto started personnel negotiations in Consulting and System Integration in May to reduce up to 300 positions globally and this process is still on-going.
Tieto is the largest Nordic IT services company providing full life-cycle services for both the private and public sectors and product development services in the field of communications and embedded technologies. The company has global presence through its product development business and global delivery centres. Tieto is committed to developing enterprises and society through IT by realizing new opportunities in customers’ business transformation. At Tieto, we believe in professional development and results.
Founded 1968, headquartered in Helsinki, Finland and with approximately 15 000 experts, the company operates in over 20 countries with net sales of approximately EUR 1.8 billion. Tieto’s shares are listed on NASDAQ OMX in Helsinki and Stockholm. Please visit www.tieto.com for more information.
This news content was configured by WebWire editorial staff. Linking is permitted.
News Release Distribution and Press Release Distribution Services Provided by WebWire.