The information contained on this website does not constitute an offer of securities for sale in the United States, Australia, Canada, Hong Kong, Japan, Singapore or any other jurisdiction where to do so would be unlawful. No securities have been, or will be, registered under the US Securities Act of 1933, as amended, and no securities may be offered or sold, directly or indirectly, within the United States, or to, or for the account or benefit of any U.S. persons (as such terms are defined in Regulation S under the Securities Act).
Nothing on this website constitutes an invitation or offer to sell, or the solicitation of an invitation or offer to buy any securities issued by the Employment Fund. The information contained within this website is provided by the Employment Fund in good faith and is for reference purposes only.
Employment Fund Stock Exchange Release 4 February 2019 at 11:00
Employment Fund starts employee cooperation negotiations
Employment Fund commenced its operations 1 January 2019 when Unemployment Insurance Fund and Education Fund were merged. Employment Fund starts employee cooperation negotiations based on the restructuring needs resulting from the merger. The negotiations are necessary to organize Employment fund according to the decisions made by the Board of Directors and to reach the relevant strategic and operational goals. The negotiations are covering the personnel of 168 persons.
The aim of the employee cooperation negotiations is not to generate cost savings but rather to restructure the operations of the Fund according to the aforementioned goals. The preliminary estimate of the need of the reductions of the personnel is at the maximum 15 persons.
Janne Metsämäki, Managing Director. tel. +358 40 522 3614
Helsinki, 4 February 2019
Chief Financial Officer
NASDAQ OMX Helsinki
The Unemployment Fund and the Education Fund are now Employment Fund. We collect the unemployment insurance contributions that are among other things financing the earnings-related unemployment benefits and urging forward the innovation of learning with the adult education allowance.
As a result of the negotiations, the Fund will reduce the total number of jobs by 9.
The total contributions would therefore amount to between 2.4% and 3.0% of workers’ wages.