May 7, 2020 / 4:57 AM / 25 days ago

BRIEF-Martela To Initiate Co-Operation Negotiations

May 7 (Reuters) - Martela Corp:

* REG-MARTELA WILL INITIATE CO-OPERATION NEGOTIATIONS IN ORDER TO MINIMIZE THE NEGATIVE FINANCIAL IMPACT RELATED TO CORONAVIRUS PANDEMIC

* WILL INITIATE CO-OPERATION NEGOTIATIONS FOR LAY-OFFS CONCERNING WHOLE PERSONNEL IN ALL MARTELA’S ENTITIES IN FINLAND

* BASED ON PRELIMINARY ESTIMATE, PLANNED LAY-OFFS WOULD LAST UNTIL END OF 2020

* CORONAVIRUS PANDEMIC AND CRISIS IT HAS BROUGHT HAS RESULTED IN WEAKENING DEMAND AND PROFITABILITY OF MARTELA’S BUSINESS Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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