Tieto Corporation Stock Exchange Release 16 March 2015, 15.00 EET
The personnel negotiations in Managed Services and Consulting and System Integration in Finland have ended on 16 March 2015. The negotiations were announced on 13 January 2015.
Reductions address the service and competence renewal ongoing in the IT industry and hence, drive the company’s competitiveness. Based on the negotiations, Tieto is estimated to reduce 435 positions in Finland. Managed Services is anticipated to reduce 295 positions, most of which will be implemented by the end of the second quarter. In Consulting and System Integration, the estimated personnel impact will be 140 positions and redundancies will be carried out during 2015, mainly during the third quarter. Initially, the personnel impact in Finland was estimated at a maximum of 500 positions.
Further information for media:
Kia Haring, Head of External Communications, tel. +358 40 765 3700, kia.haring (at) tieto.com
Further information for investors:
Lasse Heinonen, CFO, tel. +358 2072 66329, +358 50 393 4950, lasse.heinonen (at) tieto.com
Tieto is the largest IT services company in the Nordics providing full lifecycle IT services. We also provide global product development services for companies in the communications and embedded technologies arena. Through industry insight, technology vision, and innovative thinking, Tieto proactively strives to inspire and engage our customers in finding new ways of accelerating their business.
Building on a strong Nordic heritage, Tieto combines global capabilities with local presence. Headquartered in Helsinki, Finland, Tieto has over 13 000 experts in more than 20 countries. Turnover is approximately EUR 1.5 billion. Tieto’s shares are listed on NASDAQ in Helsinki and Stockholm. www.tieto.com