Pöyry Complete Negotiations Regarding Restructuring of Forest Industry Business in Finland

The consulting and engineering group, Pöyry has announced that statutory employee negotiations, started in April in the Forest Industry business group's units based in Finland have been concluded. Due to the reorganisation 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 restructuring took place in Sweden, North America and Russia with a reduction of about 200 people. The non-recurring cost of the retructuring is estimated to be EUR 2.5 million, which will be booked in the second-quarter results.