Operations will cease in March, and the closure will mean that 89 people lose their jobs. The fixed-term contracts of 30 people will also expire.
Earlier this fall, it was reported that the news agency was in crisis and that negotiations had begun with all staff.
"STT's financial challenges have been ongoing for a long time, and we have now arrived at a solution that no one wanted," Chairman of the Board Petteri Putkiranta says in a press release.
STT was founded in 1887 and was long active in both Finnish and Swedish. However, its Swedish-language service, the Finnish News Agency (FNB), closed in 2017.
