Adapting to weak demand in heat treatment and auto sectors
Glaston Corp has initiated co-operation negotiations concerning measures to adapt its operations to lower than expected demand.
The negotiations cover all companies in Finland and concern both temporary lay-offs and termination of employment contracts.
Glaston estimates that the negotiations could lead to the termination of up to 20 employment contracts.
The short-time work in Glaston’s Automotive business in Switzerland, implemented in the autumn 2019, continues until further notice and the organisation continues to monitor the situation closely.
Similar actions in other units continue. These measures, in combination with other profitability improving actions, target savings of approximately €1.5 million.