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BRIEF-Pihlajalinna Completes Cooperation Negotiations

April 24 (Reuters) - Pihlajalinna Oyj:

* PIHLAJALINNA’S COOPERATION NEGOTIATIONS HAVE BEEN COMPLETED

* APPROXIMATELY 2,500 EMPLOYEES WERE CONCERNED BY NEGOTIATIONS, AND 600 OF THEM WORK IN MUNICIPAL JOINT-STOCK COMPANIES

* IT IS DIFFICULT TO ASSESS HOW PANDEMIC SPREADS AND HOW IT AFFECTS PIHLAJALINNA’S BUSINESS OPERATIONS

* ACCORDING TO PIHLAJALINNA’S CURRENT ESTIMATE, IF WORST PANDEMIC SCENARIOS ARE REALISED, PART-TIME OR FULL-TIME TEMPORARY LAY-OFFS WOULD AFFECT NO MORE THAN 126 EMPLOYEES FOR 90 DAYS AT MOST

* NUMBER AND DURATION OF TEMPORARY LAY-OFFS CAN STILL BE IMPACTED BY POSSIBILITY OF TEMPORARILY RELOCATING TO ANOTHER TASK AND FLEXIBILITY IN EMPLOYMENT RELATIONSHIPS

* FULL-TIME TEMPORARY LAY-OFFS APPLY TO NO MORE THAN 71 EMPLOYEES AND PART-TIME TEMPORARY LAY-OFFS TO NO MORE THAN 15 EMPLOYEES

* IN ADDITION, THERE MAY BE FULL-TIME OR PART-TIME TEMPORARY LAY-OFFS OF NO MORE THAN 40 EMPLOYEES Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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