Teleste commences change negotiations

Teleste Corporation
Press release
January 9, 2024, at 13:45 EET

TELESTE COMMENCES CHANGE NEGOTIATIONS

Teleste Corporation commences change negotiations in accordance with the Act on Co-operation, regarding measures aimed at adjusting company’s operations and improving profitability. The negotiations may lead to permanent layoffs, temporary layoffs, or part-time employment.

The planned measures aim to adjust the cost structure of the common group functions and the Broadband Networks business unit to the current market situation, improving the company's profitability and growth prospects in the longer term.

These negotiations affect all Teleste Oyj personnel in all work locations in Finland. The estimated impact is maximum 35 permanent redundancies, as well as potential temporary lay-offs.

TELESTE CORPORATION

Esa Harju
President & CEO

Additional information:
Tuomas Vanne, SVP, People and Culture
Teleste Corporation, tel. +358 2 2605 611

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.