Inside information: Aspocomp starts change negotiations on possible temporary layoffs at its Oulu plant
August 15 2023 - 12:50AM
Inside information: Aspocomp starts change negotiations on possible
temporary layoffs at its Oulu plant
Aspocomp Group Plc, Inside Information, August 15, 2023, at 8:50
a.m. Aspocomp starts change negotiations on possible temporary
layoffs at its Oulu plant in Finland. Today, on August 15, 2023,
Aspocomp has issued a negotiation proposal in accordance with the
Act on Cooperation to start change negotiations for
production-related and financial reasons at its Oulu plant. The
majority of the Oulu plant’s approximately 120 production
blue-collar employees are covered by the negotiations. The change
negotiations are estimated to last two weeks, and the possible
temporary layoffs would last a maximum of 90 days. With the change
negotiations, the company prepares for a possible partial
adjustment of production to correspond to temporarily low delivery
volumes. Slower-than-expected recovery of the semiconductor cycle
and high inventory levels in various parts of the value chain has
slowed down net sales. A temporary slowdown in the semiconductor
cycle is typical for the industry. The industry's long-term growth
prospects are still strong. The cycle of the semiconductor industry
is expected to return to growth at the end of the year or the
beginning of 2024. For further information, please contact Mikko
Montonen, President and CEO, tel. +358 40 5011 262,
mikko.montonen(at)aspocomp.com. ASPOCOMP GROUP PLC Mikko Montonen
President and CEO Aspocomp – heart of your technology A
printed circuit board (PCB) is used for electrical interconnection
and as a component assembly platform in electronic devices.
Aspocomp provides PCB technology design, testing and logistics
services over the entire lifecycle of a product. The company’s own
production and extensive international partner network guarantee
cost-effectiveness and reliable deliveries. Aspocomp’s customers
are companies that design and manufacture telecommunication systems
and equipment, automotive and industrial electronics, and systems
for testing semiconductor components for security technology. The
company has customers around the world and most of its net sales
are generated by exports. Aspocomp is headquartered in Espoo and
its plant is in Oulu, one of Finland’s major technology hubs.
www.aspocomp.com
Aspocomp Group Oyj (LSE:0DG8)
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