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Raute announces completion of negotiations of temporary layoffs in Finland due to COVID-19 pandemic effects.

NORDIC BUSINESS REPORT-June 24, 2020-Raute announces completion of negotiations of temporary layoffs in Finland due to COVID-19 pandemic effects

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Raute Oyj (HEL:RAUTE), a provider of technology and services in the wood products industry, reported on Tuesday that negotiations in accordance with the Act on Co-operation within Undertakings, initiated on 15 June 2020, concerning temporary layoffs of salaried and senior salaried employees of Raute's operations in Finland in Nastola, Lahti and Kajaani, have been concluded.

Reportedly, these negotiations concerned measures, the purpose of which was to adapt operations to the financial and production-related situation resulting from the declined order book and actions preventing work to be done due to the operational restrictions (e.g. in travelling) because of the COVID-19 pandemic.

Under the negotiation solution reached, the adaptations will concern all salaried and senior salaried employees of Raute Finland with a duration of at most 90 days. Temporary layoffs may be carried out either as a shortened working week or as a longer fixed period.

As on 31 March 2020, Raute said its total headcount was 767, of which 513 persons worked in Finland. These cooperation negotiations concerned the salaried and senior salaried employees of Raute Finland, totally 333 persons.

Raute clarified that the initiated negotiations do not indicate any change in the previously disclosed outlook for 2020. Raute's net sales for 2020 are expected to decrease compared to 2019 and operating profit is expected to weaken clearly year-on-year.

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Publication:Nordic Business Report
Geographic Code:4EUFI
Date:Jun 24, 2020
Words:258
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