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Tecnotree completes co-operation negotiations in Finland

Tecnotree Corporation
Stock Exchange Release
25 October 2016 at 8.30 a.m. EEST

The co-operation negotiations started on the 3 October have been completed. The negotiations concerned the whole personnel in Finland.

The personnel reduction in Finland will be in total 37 employees of which 23 via lay-offs and 14 via other voluntary measures. These measures will lead to EUR 2.8 million cost savings per annum. The related savings will be mainly completed in 2017.

TECNOTREE CORPORATION


FURTHER INFORMATION
Padma Ravichander, CEO
padma.ravichander@tecnotree.com
tel. +97 15 6414 1420

Reija Virrankoski, VP, Human Resources
reija.virrankoski@tecnotree.com
tel. +358 40 803 1056

DISTRIBUTION
NASDAQ Helsinki Ltd
Main Media
www.tecnotree.com

About Tecnotree
Tecnotree is a global provider of telecom IT solutions for the management of products, customers and revenue. Tecnotree helps communications service providers to transform their business towards a marketplace of digital services. Tecnotree empowers service providers to monetise service bundles, provide personalised user experiences and augment value throughout the customer lifecycle. With around 900 telecom experts, Tecnotree serves around 90 service providers in around 70 countries. Tecnotree is listed on the main list of NASDAQ Helsinki with the trading code TEM1V. For more information on Tecnotree, please visit www.tecnotree.com.