Tallink Grupp
Tallink Grupp continues with the cost reduction program
Tallink Grupp / Release of a Adhoc News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- Tallink Silja OY, the Finnish subsidiary of AS Tallink Grupp, announced today about starting the negotiations with the aim to reduce the number of staff in the land organization by equivalent of 80 full-time positions out of total 550 staff members. AS Tallink Grupp has earlier informed about different costs saving measures as a response to worsened economic environment and reduced revenue levels. Above activity is a part of this saving program. The salaries of the Management Board members have been already reduced by 20% and the salaries in the Estonian land organization and in some other units of the company between 5% and 15%. AS Tallink Grupp continues working on finding additional staff-related cost saving opportunities. Janek Stalmeister Financial Director AS Tallink Grupp Tel. +372 6409 800 e-mail: janek.stalmeister@tallink.ee News Source: NASDAQ OMX 17.08.2009 Financial News transmitted by DGAP ---------------------------------------------------------------------- Language: English Issuer: Tallink Grupp Estonia Phone: Fax: E-mail: Internet: ISIN: EE3100004466 WKN: End of News DGAP News-Service ---------------------------------------------------------------------------
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