ESPOO, FINLAND – Aspocomp Group has announced the beginning of change negotiations on possible temporary layoffs and redundancies in Finland.

The company said it has issued a negotiation proposal to start change negotiations for production-related and financial reasons, with all of its personnel in Finland, approximately 150 people, being covered by the negotiations. According to a preliminary estimate, change negotiations could result to temporary layoffs and, in addition, to the termination of a maximum 5 positions.

Change negotiations will be initiated to improve the company's profitability and competitiveness and to secure future operational capacity in a weakened market situation, Aspocomp said. Slower-than-expected recovery of the semiconductor cycle and high inventory levels in various parts of the value chain have slowed down the development of the company’s net sales, and according its previous estimate, the semiconductor cycle is expected to swing to growth in the first half of 2024, and the industry’s long-term growth prospects are still strong.

• Prev
• Next