Aspocomp Group Plc, Internal Information, January 4, 2024, 9:20am
Aspocomp Group Plc begins change negotiations regarding possible layoffs and job cuts in Finland. Today, January 4, 2024, Aspocomp has published a negotiation proposal pursuant to the Cooperation Law to initiate change negotiations for production-related and financial reasons. All of the company’s employees in Finland, approximately 150, will be subject to negotiations. Preliminary estimates indicate that change negotiations could result in the layoffs of up to five positions, in addition to temporary layoffs.
Change negotiations are initiated to improve the company’s profitability and competitiveness and ensure its future operational capacity in the face of market downturns. The company is adjusting its cost structure and headcount to reflect current market and demand conditions.
The company’s net sales growth is slowing due to a slower-than-expected recovery in the semiconductor cycle and high inventory levels in various parts of the value chain. According to the company’s previous forecasts, the semiconductor cycle is expected to turn to growth in the first half of 2024, and long-term growth prospects for the industry remain strong. Inflation and interest rates, the risk of economic recession and the uncertainties posed by Russia’s war of aggression continue to impact the operating environment of AspoComp and its customers.
Negotiations will begin on January 11, 2024 and will last six weeks after the cooperation law is signed.
For more information, please contact Mikko Montonen, President and CEO.
Telephone number +358 40 5011 262, mikko.montonen(at)aspocomp.com.
ASPOCOMP Group PLC
Mikko Montonen
Representative Director and President
Aspocomp – the heart of technology
Printed circuit boards (PCBs) are used as electrical interconnects and component assembly platforms for electronic devices. Aspocomp provides PCB technology design, testing and logistics services throughout the product lifecycle. Our in-house production and extensive international partner network ensure cost-effective and reliable delivery.
Aspocomp’s customers are companies that design and manufacture systems to test semiconductor components for communications systems and equipment, automotive and industrial electronics, and security technology. The company has customers all over the world and most of its net sales are generated through exports.
Aspocomp is headquartered in Espoo and has a factory in Oulu, one of Finland’s main technology hubs.
www.aspocomp.com
