Tue, 13 Oct, 2015 12:04:46 AM FTimes – STT Report, Oct 13  File Photo – Lehtikuva. LähiTapiola Group member LähiTapiola Services has started codetermination negotiations which could result in up to 80 redundancies. The planned job reduction affects about 600 employees.
There are about 1100 people working for LähiTapiola Services, and the LähiTapiola Group employs about 3550 people.
The company aims to reduce costs and improve their profitability through organisational change and personnel reductions.
The aim for LähiTapiola over the next two years is to improve profitability in such a way that their expense ratios are proportional to the company's main competitors.
According to the Insurance Employees Union, the negotiations news is a surprise to the service company's personnel.
The union pointed out in a statement that the company has made good results in the first half of the year, and operating profits for the insurance business were about euro 200 million. Union representative Iiro Ketola describes LähiTapiola's operations as volatile and greedy.
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