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Tecnotree to start personnel negotiations in Finland

Tecnotree Corporation
Stock Exchange Release
3 October 2016 at 11.30 a.m. EEST

Tecnotree will start co-operation negotiations in Finland regarding the reduction of maximum 40 positions on financial and productive grounds. The negotiations concern the whole personnel in Finland. The company has worldwide about 900 employees of whom 108 work in Finland.

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

Tecnotree disclosed on 9 August 2016 a stock exchange release on a cost savings plan with a target to reduce personnel costs in the whole group by 5.0 million euros on an annual level, representing 100 man years. This program was intended to be implemented by the end of the third quarter. However, a part of it will happen during the fourth quarter.

TECNOTREE CORPORATION

FURTHER INFORMATION
Padma Ravichander, CEO
tel. +91 97 4151 3429

DISTRIBUTION
NASDAQ Helsinki
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.