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Tecnotree starts co-operation negotiations in Finland

Tecnotree Corporation
Stock Exchange Release
18th July 2017 at 12.40 p.m.

 
Tecnotree will start co-operation negotiations in Finland regarding the reduction of maximum twenty positions on financial and productive grounds. The company has worldwide 719 employees of whom 82 work in Finland.
 

In the frame of the negotiations alternative ways to adjust company’s activities in addition to the staff reductions are also handled.

The objective of the negotiations is to adjust the cost level with the current business situation and to improve our operations in order to match the market demands.

Due to the tight financial situation the aim of Tecnotree is to cut additional 5M EUR in 2017 in operational costs in addition to the earlier announced cuts. Mostly, the cost savings will realize in 2018.

TECNOTREE CORPORATION

Padma Ravichander
CEO

DISTRIBUTION
NASDAQ OMX Helsinki Ltd
Main Media
www.tecnotree.com

About Tecnotree
Tecnotree is a global provider of IT solutions for the management of services, products, customers and revenue for Communications Service Providers. Tecnotree helps customers to monetize and transform their business towards a marketplace of digital services. Together with its customers, Tecnotree empowers people to self-serve, engage and take control of their own digital life.

Tecnotree is listed on Nasdaq Helsinki (TEM1V). For more information, please visit www.tecnotree.com.