Brief: Akelius To Reduce Staff From 1,500 To 1,100

Akelius Residential Property AB (publ)

27/08/2020 14:20

Aug 27 (Reuters) - Akelius Residential Property AB (publ)
 AKELd.ST :
    * AKELIUS REVISES BUSINESS MODEL AND CONSIDERS REDUCING
STAFF
    * AKELIUS HAS TAKEN FIRST STEPS TO INITIATE CONSULTATIONS
WITH
TRADE UNIONS AFFECTED REGARDING A REDUCTION OF NUMBER OF STAFF
PREDOMINANTLY
    * 115 STAFF THROUGHOUT GROUP ARE IMMEDIATELY AFFECTED AND
WILL BE
PRESENTED WITH VOLUNTARY OFFERS TO LEAVE AKELIUS DURING 2020
    * ESTIMATES NORMAL STAFF TURN-OVER WILL LEAD TO A MATERIAL
STAFF
REDUCTION BY END OF 2022
    * IN TOTAL A POSSIBLE STAFF REDUCTION FROM 1,500 TO 1,100
    * ANNUAL COST REDUCTION IS EUR 42 MILLION WHEN PROGRAM IS
FULLY
IMPLEMENTED END OF 2022
    * AKELIUS ESTIMATES TO ELIMINATE 50 PERCENT OF VACANCY BY
FINISHING ONGOING EXTENSIVE UPGRADES WHICH WILL INCREASE
REVENUES BY EUR 25 MILLION

Source text for Eikon:  ID:nWkr2K37wM 
Further company coverage:  AKELd.ST 

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