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Nanso concludes Employer-Employee negotiations

12
Jan '09
To adjust the personnel to the new situation of economic activity and based on the productive and economical grounds Nanso Group started employer-employee negotiations on 17th of November 2008. By increasing the efficiency of its processes company aims to maintain competitive and the domestic manufacturing in the future as well.

The employer-employee negotiations concerned altogether 360 persons from company's different locations in Finland. The negotiations were concluded on 8th of January 2009 at Nokia. The total amount of redundant was concluded to 75 persons and with 47 redundant can be settled on retire-ment arrangements. These actions will affect mainly to company's tricot production at Nokia.

Nanso Group Oy employs at the beginning of the year 2009 altogether 840 persons. After the layoffs the personnel will amount to be 770 from which 160 persons work abroad.

Business operation of Nanso Group has been affected by the still tightening common economic uncertainty and the difficulties of retail business. This can be seen in the underdevelopment of the income statement and turnover on 2008 and also in the low order stocks of this spring. The normal season sales of Christmas were affected by the discount sales that started earlier than normally. These sales have been remarkable especially for the tricot business. The capacity exceeds now the demand, which forces company to adjusts it to the level of demand.

Nanso Group Oy is the Finland's second largest company in the clothing industry. In year 2007 turnover was 76.3 million euro. Company manufactures tricot and underwear products, socks and hosiery for Finnish markets and for export to Scandinavia, Middle Europe, Russia, Great Britain and Canada. The most familiar brands are Nanso, Finnwear, Black Horse, Hyvon, Vogue, Amar, Norlyn and KS Socks. Nanso Group Oy employs approximately 840 people.

Nanso Group Oy


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