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Konecranes Announces 2,000 Temporary Layoffs in Finland

PortandTerminal.com, March 30, 2020

Finnish Konecranes has said that it plans to temporarily lay off around 2,000 employees as a result of coronavirus impact on the company’s operations.

HELSINKI, FINLAND – Crane manufacturer Konecranes has begun talks with Finnish works councils to discuss temporary lay-offs of up to 90 days. The talks cover Konecranes’ entire Finnish operation which has some 2,000 employees in total.

The company said the layoffs were driven by the business disruption caused by the spread of the novel coronavirus disease.

Many of Konecranes’ customers are limiting access to their premises, affecting Konecranes’ ability to complete the installation of new equipment and perform certain service operations. Meanwhile, the company’s own manufacturing operations have also been impacted by the significant and increasing measures to contain the pandemic.

“In starting discussions in Finland, Konecranes seeks to explore all possible temporary measures to adjust costs to the uncertain global business environment. The company cannot estimate at this stage what those measures will ultimately be, but the period of temporary layoffs would be up to 90 days at most,” the company said.

Reflecting this development, on March 26 Konecranes updated its demand outlook and withdrew its financial guidance for full-year 2020.

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