Trainers’ House Oyj
Trainers’ House starts codetermination negotiations
Trainers' House Oyj 05.08.2013 08:35 Dissemination of a Adhoc News, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Espoo, 2013-08-05 08:35 CEST (GLOBE NEWSWIRE) -- TRAINERS' HOUSE PLC, STOCK EXCHANGE RELEASE, 5 AUGUST 2013 AT 9:35 Trainers' House starts codetermination negotiations concerning its project managers in order to adjust its business operations to correspond to the current demand and the current scope of the group's operations. Trainers' House currently employs 26 project managers. The need for cost savings is especially due to the fact that the scope of the group's business operations has diminished and redirection the offering. Other personnel groups of the group are not included in the scope of the codetermination negotiations. Trainers' House aims at cost savings of approximately EUR 0.2 million on an annual level. The cost savings will primarily be sought from other sources than through reduction of personnel, but based on the company's preliminary estimate it is possible that the reorganizations may potentially also lead to a reduction of less than 10 persons in total. The aim of the codetermination negotiations is to find alternative solutions to possible layoffs, to seek alternative sources of cost savings and to explore other alternatives which could reduce the amount of the possible personnel reductions and to minimize the consequences for the personnel. 'Trainers' House's business operations are experiencing a period of significant change. We estimate that in the future demand will be directed to our services related to implementation of change. In the codetermination negotiations we are seeking to explore alternatives to enhance the efficiency of our operational functions.' states CEO Arto Heimonen. TRAINERS' HOUSE PLC Board of Directors FURTHER INFORMATION Arto Heimonen, tel. +358 40 412 3456 CEO DISTRIBUTION NASDAQ OMX Helsinki Oy Main media www.trainershouse.fi News Source: NASDAQ OMX 05.08.2013 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: Trainers' House Oyj Finland Phone: Fax: E-mail: Internet: ISIN: FI0009008122 WKN: End of Announcement DGAP News-Service ---------------------------------------------------------------------------
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