Inside information: Aspocomp starts change negotiations in Finland
January 04 2024 - 2:20AM
Inside information: Aspocomp starts change negotiations in Finland
Aspocomp Group Plc, Inside Information, January 4, 2024, at 9:20
a.m.
Aspocomp Group Plc starts change negotiations on possible
temporary layoffs and redundancies in Finland. Today, on January 4,
2024, Aspocomp has issued a negotiation proposal in accordance with
the Act on Cooperation to start change negotiations for
production-related and financial reasons. The company’s entire
personnel in Finland, approximately 150 people, are covered by the
negotiations. According to a preliminary estimate, change
negotiations could result to temporary layoffs and, in addition, to
the termination of a maximum 5 positions. Change negotiations will
be initiated to improve the company's profitability and
competitiveness and to secure future operational capacity in a
weakened market situation. The company adapts its cost structure
and number of personnel to reflect the current market and demand
situation. Slower-than-expected recovery of the semiconductor cycle
and high inventory levels in various parts of the value chain have
slowed down the development of the company’s net sales. According
to the company’s previous estimate, the semiconductor cycle is
expected to swing to growth in the first half of 2024, and the
industry’s long-term growth prospects are still strong. Inflation
and interest rates, the risk of recession and the uncertainties
posed by Russia’s war of aggression continue still to affect the
operating environment of Aspocomp and its customers. The
negotiations will start on January 11, 2024, and last six weeks
following the Act of Cooperation. For further information, please
contact Mikko Montonen, President and CEO, tel. +358 40 5011 262,
mikko.montonen(at)aspocomp.com. ASPOCOMP GROUP PLC Mikko Montonen
President and CEO Aspocomp – heart of your technology A
printed circuit board (PCB) is used for electrical interconnection
and as a component assembly platform in electronic devices.
Aspocomp provides PCB technology design, testing and logistics
services over the entire lifecycle of a product. The company’s own
production and extensive international partner network guarantee
cost-effectiveness and reliable deliveries. Aspocomp’s customers
are companies that design and manufacture telecommunication systems
and equipment, automotive and industrial electronics, and systems
for testing semiconductor components for security technology. The
company has customers around the world and most of its net sales
are generated by exports. Aspocomp is headquartered in Espoo and
its plant is in Oulu, one of Finland’s major technology hubs.
www.aspocomp.com
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