Wärtsilä’s consultation process in Finland completed

Wärtsilä Corporation, Stock exchange release 19 March 2014 at 11:00 UTC+2

Wärtsilä’s consultation process with employee representatives in Finland has been concluded. The process was initiated on 29 January 2014 with the aim of reducing 200 jobs in Finland. As a result of the negotiations, the redundancy need has been confirmed to be 142 permanent employees. Since the start of the restructuring process, the number of personnel has decreased and will decrease in near future, through natural attrition and retirements, therefore, the total target for job reductions will be achieved.

Wärtsilä employed 3,776 people in Finland at the end of December 2013. The majority of the redundancies will take place in Vaasa and the reduction measures are expected to be completed by the end of May. The employees who will leave the company as a consequence of the consultation negotiations will be offered support and consultation as well as assistance in re-employment.

The employee reductions in Finland are a part of the group-wide efficiency program initiated in January to secure future profitability and competitiveness. The program targets annual savings of EUR 60 million and is expected to lead to a reduction of approximately 1,000 employees globally. The consultation processes in the other affected countries are currently ongoing.

For further information, please contact:

Mr Marco Wirén
Executive Vice President & CFO, Wärtsilä Corporation
Tel: +358 10 709 5640

Mr Atte Palomäki
Executive Vice President, Communications & Branding, Wärtsilä Corporation
Tel. +358 10 709 5599

Mr Stefan Damlin
Managing Director, Wärtsilä Finland Oy
Tel. +358 10 709 1972