Nordic Business Report-September 15, 2006-YIT Corporation to cut 308 jobs
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Finnish construction and services group YIT Corporation said on Friday (15 September) that YIT Industrial and Network Services Ltd's Network Services division had concluded its personnel negotiations.
The need for personnel cutbacks has been confirmed to amount to 308 persons, the company said.
The reductions are being carried out to boost operational efficiency.
The cost effects of the personnel cuts, some EUR6.0m, will be recognised in the third-quarter results of 2006.
One euro (EUR) is worth approximately 0.67 British pounds (GBP).
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