Vincit IT services completes restructuring talks, 21 employees to lose jobs

Finnish IT services company Vincit has concluded its restructuring negotiations, resulting in the termination of 21 employees, reports public broadcaster Yle, citing STT.

The negotiations, which began in early March, targeted the company’s billable service personnel across all Finnish locations. Including voluntary resignations during the first quarter, Vincit’s workforce has now been reduced by approximately 40 employees.

The company reported one-time costs of around €400,000 from the restructuring process, which will be recorded as items affecting comparability in the first quarter of this year.

Earlier in March, Vincit announced plans to cut up to 45 positions.