Poyry Completes Statutory Negotiations Preceding Layoffs

Vantaa, Finland, 11 June 2009 -- The statutory employee negotiations that started in April in Pöyry's Forest Industry business group's units based in Finland have been concluded.

As a result of the reorganization the business group will permanently lay off about 100 people in Finland at this stage. The remaining staff in Pöyry Industry Oy, Finland, may be laid off temporarily until further notice. In addition, temporary lay-offs may lead to permanent lay-offs, affecting a maximum of 150 people. Part of the capacity reduction will be implemented through pension arrangements.
In 2009, adaptation measures also have been implemented in Sweden, North America, and Russia, with a reduction equalling the capacity of about 200 people.
The nonrecurring cost effect of adjusting the capacity in the Forest Industry business group with the above-mentioned measures is estimated to amount to EUR 2.5 million, which will be booked in the second-quarter results.