Teleste commences change negotiations

Teleste Corporation
Press release
August 31, 2023, at 11:05 EEST

TELESTE COMMENCES CHANGE NEGOTIATIONS

Teleste Corporation commences change negotiations in accordance with Act on Co-Operation, regarding actions which target adjustments to company’s operations and improvement in profitability. The negotiations may result in personnel reductions, including permanent redundancies, temporary lay-offs or part-time employment.

The reason for these adjustments is the market outlook during the rest of 2023 and early 2024, combined with increased corporate costs. The planned actions aim to adjust operating expenses in line with the short-term market situation, whilst securing longer-term profitability and growth intentions.

These negotiations affect all Teleste Oyj personnel in all work locations in Finland. The estimated impact is 25 permanent redundancies, as well as potential temporary lay-offs.

TELESTE CORPORATION

Esa Harju
President & CEO

Inquiries for more information:

Mirkka Lamppu
Director of Communications, Teleste Corporation
Tel. +358 2 2605 611
mirkka.lamppu@teleste.com

About Teleste
Teleste offers an integrated product and service portfolio that makes it possible to build and run a better networked society. Our solutions bring television and broadband services to you, secure your safety in public places and guide your use of public transport. With solid industry experience and drive for innovations, we are a leading international company in broadband, security and information technologies and related services. We connect with our customers through a global network of offices and partners. In 2022, Teleste’s net sales reached EUR 165 million and it had approximately 860 employees. Teleste is listed on Nasdaq Helsinki. For more information, visit www.teleste.com.