The Helsinki-based company said it is holding discussions about cutting 2,000 jobs for at most 90 days between May and December 2003. It said that clients had delayed projects they had already decided to begin as well as new investment decisions, and added that price competition had intensified.
Novo Group aims to make cost savings of 3m euros ($3.2m) as a result of the lay-offs, which will only affect the company’s domestic operation. Tietoenator Corp, Finland’s largest IT services supplier, said in mid-February that demand remained stable in the country, in contrast to more severe conditions in Sweden.
Source: Computerwire
