Hundreds of jobs on the line at Lehto, Aktia Bank

Both companies are starting co-determination talks about job cuts, as they try to make millions of euros in savings.

File picture of construction site / Credit: iStock

Hundreds of jobs are on the line as negotiations on redundancies begin at two large Finnish companies.

Lehto construction currently employs more than 1400 people but says it needs to make €7 million cost reductions. The co-determination talks involve up to 540 staff, with Lehti looking to cut 150 man years.

The company’s core business is in the construction and renovation of business premises, apartments, care sector facilities and other public buildings. They’re warning that all parts of their business will be impacted by the job cuts but they’re looking at a range of options including moving some staff to part time hours, job reassignments or transfers as well as redundancies.

Aktia Bank job cuts target 110 workers 

Meanwhile one of Finland’s high street bank brands Aktia Bank begins talks today to cut or move to part time 110 jobs. Up to 380 employees are covered by the negotiations.

Aktia says it needs to make savings of €3 million, although it expects operating profits to remain the same this year as in 2018.

The job cuts are most likely to impact branches of Aktia Bank around the country as the company looks to streamline its branch services.