As stated in the stock exchange release published on July 24, 2013, Konecranes starts new measures to reduce the company’s annual cost base by €30 million by the end of 2014. Konecranes will start statutory negotiations in Finland regarding possible temporary and permanent layoffs. It is estimated that the possible permanent personnel reductions in Finland will affect, at most, 90 employees. The reductions in personnel will be made through permanent reductions and early retirements, and by reducing the use of hired personnel and temporary employees. The statutory negotiations will affect all personnel at Konecranes Plc, Konecranes Finland Oy and Konecranes Service Oy in Finland.