Finland: Lemminkäinen to cut 265 man-years

Finnish construction and infrastructure company Lemminkäinen has concluded its employer-employee negotiations and is cutting a maximum of 265 man-years in Finland. The initially announced need for reductions was about 500 man-years, and half of this in Finland. The company will give notice to some employees, and temporarily lay off some. Also pension arrangements and discontinuation of fixed-term contracts will be used, as well as other voluntary reductions.
June 12, 2014 Read time: 1 min

Finnish construction and infrastructure company 4438 Lemminkäinen has concluded its employer-employee negotiations and is cutting a maximum of 265 man-years in Finland.

The initially announced need for reductions was about 500 man-years, and half of this in Finland.

The company will give notice to some employees, and temporarily lay off some. Also pension arrangements and discontinuation of fixed-term contracts will be used, as well as other voluntary reductions.

Lemminkäinen is closing its building construction offices in Kokkola and Kouvola.

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Finland: Lemminkäinen's results in 2013

Finnish construction and infrastructure company Lemminkäinen's net sales totalled €2,218.2 million in January-December 2013, down slightly from €2,267.6 million in 2012.

The company's operating loss, excluding non-recurring items, amounted to €5.2 million compared to a profit of €50.4 million in the previous year.

In October-December 2013, Lemminkäinen posted net sales of €639.5 million down from €668.6 million in the corresponding period of 2012. The company's operating loss, excluding non-recurring

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