Elektrobit to Layoff 170 Worldwide

HELSINKI – Elektrobit will lay off 170 staff worldwide as part of a restructuring plan aimed at saying €10 million per year.

EB will also cut certain programs and reduce some subcontracting.

The measures come on the heels of an October announcement in which the company said it would cut 42 jobs as part of a plan to cut costs by €30 million a year.

During the second half of 2008, EB will take up to €5 million in nonrecurring restructuring costs and write-offs related to the layoffs.