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04-16-2009: Tikkurila has concluded its co-determination negotiations in Finland. The outcome of the negotiations
will see a personnel reduction at the Vantaa site of 163, with 13 employees being made redundant.
The majority of personnel reductions will be achieved by the non-renewal of temporary employment
contracts and by means of pension arrangements and a voluntary package offered to personnel.
When the co-determination negotiations were launched, it was estimated that the savings program,
involving the entire Tikkurila Group, might lead to a reduction of approximately 200 persons in
Finland.
During the negotiations, an agreement was reached on a support package to be offered to all
personnel to be made redundant. The additional benefits included in the support package aim at fast
and effective re-employment. Key elements of the support package include a career service to
facilitate re-employment, setting up a training and education fund for retraining and re-employment,
various pension arrangements, and financial support to employees to be made redundant.
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