News
The article is more than 12 years old

Tieto to bump 70 Finnish workers

Finnish IT firm Tieto has announced plans to shed some 180 jobs internationally, 70 of which will be cut from their Finnish workforce. The company is pinning the job losses on overcapacity and work automation.

Tieto. Tiedon logo. Tiedon pääkonttori
Image: Tieto Corporation

According to Tieto, the information technology service provider's operations have been hampered by strong fluctuations in demand.

In neighbouring Sweden an estimated 30 workers will also face redundancy, with Tieto’s product development services feeling the brunt of the job cuts.

The firm has engaged in several rounds of employment negotiations in recent years, the most recent being the shedding of 240 positions late last year.

Despite this latest round of restructuring, in late April the company announced a strong first quarter for 2014, reporting “encouraging growth” and an operating profit of 34.5 million euros.