Savosolar decides to cut headcount to prepare for COVID-19 effects

Finnish solar thermal systems builder Savosolar Oyj (FRA:5J4) has started negotiations with its staff with the view to reduce its workforce due to the coronavirus disease (COVID-19) pandemic.

The company said Wednesday that it is “preparing to adjust its operations due to the possible negative effects of the newly activated corona situation”.

Invoking production and financial reasons, Savosolar is considering to temporarily lay off about 25 part-time or full-time employees for a maximum of 90 days.

Savosolar has initiated the so-called cooperation negotiations, a legal requirement for companies with at least 20 employees, according a Finnish trade union, calling the layoff possible.

The company said that it has several projects in active execution and bidding phase, which will leave sales and project execution staff outside the scope of its adjustment measures.

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