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June 25, 2009

Wärtsilä completes job cut negotiations

Wärtsilä Corporation says that its Ship Power business has finished the formal process in Finland --and in some other countries--aimed at realigning its organization and resources. The negotiations were initiated at Ship Power to adjust to the substantially weakened global marine market situation.

Wärtsilä has not only seen new orders for diesels and other ship power systems fall, but has experienced cancellations of existing orders--and is steeling itself for more.

In Finland, negotiations that ended today will result in the reduction of 77 jobs. The major part of these job reductions will be implemented by internal job transfers within the company and by the expiration of temporary employment contracts. The result of the negotiations is that 28 Ship Power employees in Finland are under the threat of being made redundant.

Similar negotiations in several other countries have also come to an end. In the remaining countries, the adjustment process is proceeding as planned.

Wärtsilä Ship Power announced in May that it had initiated the formal process to cut 400-450 jobs, approximately 80 of them in Finland. The process affects all of Wärtsilä Ship Power's some 1.300 employees in all functions globally.

Wärtsilä Ship Power has employees within sales, project management, engineering services and ship design in 30 countries. In all, Wärtsilä Corporation has 19,000 employees. Wärtsilä has three businesses; Ship Power, Services, and Power Plants.

Wärtsilä says that the annual savings from these measures will be approximately EUR 30 million. The effect of the savings will start to materialize gradually from the second part of 2009, and will take full effect by the end of 2010.


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