TALENTUM OYJ STOCK EXCHANGE RELEASE JUNE 3, 2009 AT 12.15 pm
TALENTUM'S CODETERMINATION NEGOTIATIONS CONCLUDED IN FINLAND
Talentum's codetermination negotiations disclosed in a stock exchange release on
April 15, 2009 have been concluded in Finland. The negotiations related to the
publishing business in Finland and staff at the parent company Talentum Oyj. The
negotiating objective was cost savings of 30 full time equivalents.
In order to adapt business operations and costs to the changing market situation
Talentum will cut staff at its Finnish publishing business and parent company by
30 full time equivalents. Of them staff 20 are by terminating their contracts of
employment, and through other schemes staff 10.
The measures taken in Finland will cut staff costs in the Talentum Group on
yearly level by approximately EUR 2 million. The arrangements will incur
extraordinary expenses, which will be disclosed in the interim report.
In Sweden the codetermination negotiations are still continuing. The objective
is cost savings of 20 full time equivalents.
Talentum previously disclosed Group's operational cost cutting programmes,
aiming at savings of around EUR 3.0 million in 2009 compared to the previous
year.
TALENTUM OYJ
Juha Blomster
CEO
Further information
CEO Juha Blomster, tel. + 358 20 442 4444
CFO Kaisa Kokkonen, tel. + 358 40 342 4212
Distribution
NASDAQ OMX Helsinki
Principal media