Icelandic news translated into English

October 31, 2008

31.10 – 15 been laid off from Nýherji

Filed under: announcements,economy,families,jobs — newsfrettir @ 2:53 pm
Tags: ,

Nýherji has now laid off 15 persons in Iceland and monthly pay for the rest of the staff will be reduced by 10%. The basic pay for employess with less than 300.000 ISK per month will stay the same.

In the announcement it states that the pay reduction will be effective from 1. february 2009. The pay segment of the job contracts will be cancelled in writing with 3 months notice. The pay of managers and CEO´s will be reduced by 10% effective 1. November.

There might be discussions with a few employees if they will consider a part time job to come up against the recession in their job area.

There will be serious restraint in finances in running Nýherji, and reduced funds in developement and all other expences will be reduced as possible, as the announcement states.

“The financial state of Nýherji is solid, and the company is moderately indebted, but it predictable that the difficult situation in icelandic economy could have an impact on the companies income and practice. The cost of pay is almost 80% of the companies expences, so it is essential to cut back. We want to act right now as this situation has unfolded.” Says Þórður Sverrisson, president of Nýherji.

The company chain of Nýherji are 20, both here in Iceland and abroad. The daughter companies in Iceland are TM Software ehf, Applicon ehf, ParX ehf, Sence ehf, Linkur ehf, SimDex ehf, Vigor ehf, Skyggnir ehf, Origo ehf and eMR ehf. Around 720 employees are in the chain, there of 550 individuals here in Iceland, and 170 overseas. Original news article written by Sverrir Vilhelmsson

(To view the company )

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