Orion Oyj (HEL:ORN1V) Orion's Statutory Negotiations Completed. Personnel To Be Reduced By About 205 In Finland
Orion Oyj (HEL:ORN1V) The statutory negotiations which were initiated in Orion Corporation with personnel representatives in November 2008 with emphasis on changes in the operational model and structure of pharmaceutical research and development, have been completed. In result, a decision has been made to reduce the company's personnel in Finland by altogether about 205 persons, of which about 175 will be given a notice and about 30 positions will be terminated through retirement and other arrangements. According to the original estimate, the negotiations could have led to cutting up to 300 jobs. In its financial period Q4/2008, Orion will book a non-recurring charge of preliminarily about EUR 3.9 million relating to the structural rearrangements.
