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Konecranes completes statutory layoff negotiations

Konecranes completes statutory layoff negotiations

Konecranes Plc, Konecranes Finland Oy and Konecranes Service Oy started statutory negotiations in Finland on August 15, 2013 as part of the measures announced by the company to reduce annual costs by EUR 30m.

In addition to the 51 permanent layoffs, Konecranes will also reduce the use of temporary and hired personnel and has agreed on early retirements. The total impact will be to reduce the number of personnel by around 80 by the end of 2014.

Additionally, Konecranes Service Oy and Konecranes Finland Oy have agreed on temporary layoffs to be carried out according to need. In Konecranes Service Oy they will be carried out by the end of June 2014 and in Konecranes Finland by the end of August 2014.

According to a company statement, the aim of these measures is to adjust the company’s cost structure and capacity and bring it in line with the current, weakened market situation and to secure Konecranes’ future competitiveness. The actions being considered are globally expected to affect a maximum of 600 people through redundancies, temporary layoffs and early retirement.