Savosolar statutory negotiations completed; temporary layoffs due to the corona situation

Savosolar PlcCompany Announcement, Insider information    18 September 2020 at 2.15 p.m. (CEST)Savosolar statutory negotiations completed; temporary layoffs due to the corona situationThe statutory negotiations regarding Savosolar Plc's corona position have been completed. The company has decided to lay off 21 people on a part-time or full-time basis for a maximum of 90 days over the next three months. The factory will continue its operations with a shortened working week according...

Mikkeli, 18/09/2020 (informazione.news - comunicati stampa - energia)

Savosolar Plc
Company Announcement, Insider information    18 September 2020 at 2.15 p.m. (CEST)

The statutory negotiations regarding Savosolar Plc's corona position have been completed. The company has decided to lay off 21 people on a part-time or full-time basis for a maximum of 90 days over the next three months. The factory will continue its operations with a shortened working week according to the current plan until end of the year, as the company still has orders to fulfil. If the corona situation changes substantially during the three-month period, or if the company receives new orders during the lay-off period, the plan may be changed as necessary. The call back to work may take place with a three (3) days' notice. The company has several projects in the delivery and active bidding phase and thus the above mentioned adjustment measures do not apply to sales and project execution personnel.

The company management will also reduce their remuneration within the next three months. Overall, the company expects to achieve approximately EUR 0.2 million in savings over the next three months through personnel arrangements and other ongoing savings measures.

SAVOSOLAR PLC

Savosolar Plc
Managing Director Jari Varjotie
Phone: +358 400 419 734
E-mail: jari.varjotie@savosolar.com

Savosolar Plc discloses the information provided herein pursuant to the Market Abuse Regulation ((EU) No 596/2014, ”MAR”). The information was submitted for publication by the aforementioned person on 18 September 2020 at 2.15 p.m. (CEST).

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