Bladewatch.com

http://www.finextra.com/fullstory.asp?id=20083

Troubled Scandinavian IT services vendor Tieto is cutting 220 jobs in Finland and temporarily laying off a further 1500 staff in the country as it looks to slash costs.

The firm warned in April that around 300 jobs would be lost in Finland as part of a plan to cut 620 positions from its operations worldwide.

It has now confirmed 220 job cuts, with 100 made during June and July and the rest by the end of the year. Most jobs will go in the Helsinki area but there will be redundancies in other locations in Finland too.

Although 80 fewer jobs than expected have gone permanently, a further 1500 employees – out of a Finish workforce of 5700 – will be laid off temporarily, either for a fixed period or until further notice.

Reducing costs is to be expected in the current economic conditions, how your business and employees react to this is an important part of the management and delivery process. Letting people go is unfortunate for the business and employees involved, I wish them all the very best.

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