Brief: Betolar Plans Structural Changes

Betolar Oyj

12/09/2023 12:06

Sept 12 (Reuters) - Betolar Oyj  BETOLAR.HE :
    * INSIDER INFORMATION: BETOLAR PLANS STRUCTURAL CHANGES TO
STRENGTHEN THE IMPLEMENTATION OF ITS GROWTH STRATEGY AND ADJUSTS
ITS COST STRUCTURE
    * COMPANY WILL IMPLEMENT COST SAVINGS THAT ARE ESTIMATED TO
RESULT
IN ANNUAL SAVINGS OF EUR 5 MILLION
    * SAVINGS ARE MAINLY RELATED TO PROCUREMENT OF EXTERNAL
SERVICES
AND OTHER VARIABLE COSTS, AND PARTLY TO PERSONNEL COSTS
    * WILL INITIATE CHANGE NEGOTIATIONS CONCERNING COMPANY, AIM
OF
WHICH IS TO RENEW ORGANIZATIONAL STRUCTURE TO SUPPORT
IMPLEMENTATION OF STRATEGY AND ADJUST NUMBER OF PERSONNEL AND
PERSONNEL COSTS ACCORDINGLY
    * TARGETED SAVINGS ARE EXPECTED TO BE VISIBLE IN COMPANY'S
COST
STRUCTURE MODERATELY DURING REST OF YEAR 2023 AND TO MATERIALIZE
FULLY IN 2024
    * IF IMPLEMENTED, PLANNED ORGANISATIONAL CHANGES COULD LEAD
TO A
REDUCTION OF UP TO 9 EMPLOYEES
    * CHANGE NEGOTIATIONS WILL START ON 18 SEPTEMBER 2023 AND
THEY ARE
EXPECTED TO BE COMPLETED BY BEGINNING OF OCTOBER

Source text for Eikon:  ID:nWkr1vqBJH 
Further company coverage:  BETOLAR.HE 

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