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HEX To Commence Rationalisation Negotiations In IT Development Unit

Date 04/06/2003

HEX Plc will start rationalisation negotiations in its Corporate IT Development unit, which employs 80 people. Staff reductions are estimated at 8-15.

The need for rationalisation has arisen because of the general market situation and the decrease in internal development projects. The re-organisation is not related to the planned merger.

The rationalization negotiations may lead to redundancies, as the demand for development work is estimated to diminish permanently.