Teleste Corporation says it has commenced negotiations with staff over a possible reduction in staffing.
In a statement, the Finnish tech firm said negotiations may result in personnel reductions, including permanent redundancies, temporary lay-offs or part-time employment.
It follows the combination of a downturn in the market outlook for the remainder of 2023, combined with an increase in corporate costs. Earlier this month Teleste reported the number of orders received from Europe within its Broadband Networks business had fallen short of expectations.
The negotiations affect all Teleste Oyj personnel at locations in Finland.
It’s estimated there will be 25 permanent redundancies, as well as potential temporary lay-offs.