Teleste commences Co-determination negotiations to continue temporary layoffs

Company

TELESTE CORPORATION INVESTOR NEWS 28.9.2020 AT 12:05 EEST

TELESTE COMMENCES CO-DETERMINATION NEGOTIATIONS TO CONTINUE TEMPORARY LAYOFFS

As continuation to previously announced COVID-19 pandemic related measures, Teleste Oyj is initiating co-determination negotiations, in accordance with the Act on Co-operation within Undertakings. The negotiations on possible temporary layoffs concern approximately 330 employees in Network Products business unit and its related functions in Finland. Possible layoffs will last for a maximum of 90 days. Corresponding adapting measures will also be implemented in Teleste’s foreign units if necessary.

Teleste offers an integrated product and service portfolio that makes it possible to build and run a better networked society. Our solutions bring television and broadband services to you, secure your safety in public places and guide your use of public transport. With solid industry experience and drive for innovations, we are a leading international company in broadband, security and information technologies and related services. We connect with our customers through a global network of offices and partners. In 2019, Teleste’s net sales reached EUR 235 million and it had 1,330 employees. Teleste is listed on Nasdaq Helsinki.

TELESTE CORPORATION
Jukka Rinnevaara
CEO

DISTRIBUTION:
Main Media
www.teleste.com