Raute Corporation to temporary layoff 400 people in Nastola and Jyväskylä units

   Moscow. Nov 24, 2008. /Lesprom.com/. Negotiations at Raute Corporation in compliance with the Act on Co-operation on adjusting the company's operations to the lowered order book and the weakened

market and demand situation, initiated on 29 October 2008, have been concluded, the company said.

The decision means temporary lay-offs of fixed duration in Raute's Nastola and Jyväskylä units. The lay-offs will start in December and they are implemented as temporary lay-offs of a maximum of 90 days. The lay-offs apply to Raute Corporation's entire personnel in Finland, a total of about 400 people.

Additionally, the company will terminate a maximum of 9 salaried and senior salaried employees' employment contracts. These adjustment operations are made due to productional and financial reasons.

Raute is a technology company serving the wood products industry worldwide. Its most important customers are the plywood and LVL industries.

Additional information: Raute Oyj