| EDB implements efficiency measures as previously announced |
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(Oslo, 26 August 2004) EDB Business Partner is to implement restructuring measures as previously announced in relation to the activities acquired from Telenor and as a result of a general need to improve efficiency. These measures will in total lead to a reduction in headcount of approximately 230 over the course the next 12 months. Of this number, approximately 60 have already left EDB, 44 will be notified of redundancy on Monday and 12 will be transferred to vacant posts or will replace temporary staff. The measures to be implemented will not incur any extraordinary costs other than the amounts already announced for which provision has been made in the company's accounts. EDB has previously announced that it needs to implement restructuring measures in respect of the integration of the Telenor Operating Services Division into EDB and to respond to the need for greater efficiency in customer contracts and the loss of certain customers. These measures comprise savings and greater efficiency in terms of premises and purchasing, including hardware and software, as well as a reduction in headcount, and relate principally to the activities of EDB IT Operations.
After a detailed review, it is estimated that approximately 230 employees will be directly affected by these changes. Of these 60 have already left EDB for various reasons, 44 employees will be offered termination packages and 12 will be transferred to vacant positions or will replace temporary staff. The measures for increased efficiency will continue over the next 12 months, creating an overall saving of about 230 full-time positions. The final part of the measures will be principally linked to the integration of the unit acquired from Telenor together with greater efficiency of staff and support functions. Lay-offs will only be necessary if the number of employees, who are transferred to new duties, accept the voluntary redundancy terms or leave for other reasons proves to be insufficient. These measures are in line with the plans and provisions for costs already announced.
Any enquiries may be addressed to:
John-Arne Haugerud, Executive Vice President IT Operations, Tel: +47 901 15 337 Reidar Gjærum, Executive Vice President - Corporate Communications. Tel: + 47 908 55 101 EDB Business Partner is one of the leading suppliers of IT operations and software in the Nordic region. The company provides industry-leading total solutions in the areas of banking and finance, telecommunications and IT operations. EDB's objective is to contribute to its customers' value creation by offering productivity-enhancing IT solutions combined with flexible and reliable operating solutions with unique economies of scale. EDB Business Partner has some 2,500 employees and reported turnover of NOK 4.3 billion in 2003. EDB is represented in Norway, Sweden, the USA, England, Spain and Switzerland. EDB Business Partner ASA is listed on Oslo Børs with the ticker code EDBASA. |
