March 26, 2020 / 5:07 PM / 5 days ago

BRIEF-Nexstim Says Decided To Temporarily Lay Off All Its Personnel For Maximum Of 90 Days

March 26 (Reuters) - Nexstim Oyj:

* NEXSTIM OYJ SAYS COMPLETES NEGOTIATIONS UNDER CO-OPERATION WITHIN UNDERTAKINGS ACT

* NEXSTIM OYJ SAYS DECIDED TO TEMPORARILY LAY OFF ALL ITS PERSONNEL FOR MAXIMUM OF 90 DAYS

* NEXSTIM OYJ SAYS THERE WERE NO TERMINATIONS OF EMPLOYMENT IN FINLAND.

* NEXSTIM OYJ - LAY OFFS MAY BE EXECUTED AS FULL TIME OR PART TIME LAY OFFS

* NEXSTIM OYJ - COST SAVINGS PLAN LED TO TERMINATION OF EMPLOYMENT OF TOTAL OF SIX PERSONS IN CO’S FOREIGN SUBSIDIARIES

* NEXSTIM OYJ SAYS LAY OFFS MAY BE EXECUTED AS FULL TIME OR PART TIME LAY OFFS

* NEXSTIM OYJ - COMPANY WILL REACH ITS TARGET OF UP TO EUR 3 MILLION ANNUAL SAVINGS

* NEXSTIM OYJ - CO ESTIMATES THAT WITH THESE COST SAVING MEASURES, IT WILL REACH SAVINGS OF APPROXIMATELY EUR 0.8 MILLION DURING NEXT THREE MONTHS Source text for Eikon: Further company coverage:

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