Eastern European Markets

August, the 18th 2009

Tallink Grupp continues with the cost reduction program

Tallink Silja OY, the Finnish subsidiary of AS Tallink Grupp, announced today about starting the negotiations with the aim to reduce the number of staff in the land organization by equivalent of 80 full-time positions out of total 550 staff members.

AS Tallink Grupp has earlier informed about different costs saving measures as a response to worsened economic environment and reduced revenue levels. Above activity is a part of this saving program. The salaries of the Management Board members have been already reduced by 20% and the salaries in the Estonian land organization and in some other units of the company between 5% and 15%.

AS Tallink Grupp continues working on finding additional staff-related cost saving opportunities.

Further information
Janek Stalmeister
Financial Director
AS Tallink Grupp
Tel. +372 6409 800

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