Brief: Stockmann Division To Cut About 60 Positions

Lindex Oyj

11/10/2021 07:38

Oct 11 (Reuters) - Stockmann Oyj Abp  STOCKA.HE :
    * STOCKMANN DIVISION TO RENEW ITS OPERATING MODEL WITH THE
AIM OF
IMPROVING CUSTOMER SATISFACTION AND PROFITABILITY
    * GOAL IS TO STREAMLINE PROCESSES BY REMOVING OVERLAPS
BETWEEN
FUNCTIONS AND COUNTRIES
    * CODETERMINATION NEGOTIATIONS WILL COVER 210 POSITIONS IN
FINLAND
    * PERSONNEL REDUCTION REQUIRED IS ESTIMATED TO BE 60
POSITIONS AT
MOST
    * OF ORGANISATION'S CURRENT POSITIONS, APPROX. 105 WILL BE
ENDED,
WHILE ABOUT 45 NEW POSITIONS ARE PLANNED.
    * PLANNED MEASURES WILL BRING ESTIMATED ANNUAL SAVINGS OF
NEARLY
EUR 4 MILLION GRADUALLY AS OF SECOND HALF OF 2022.
    * PERSONNEL REDUCTIONS WILL NOT AFFECT DEPARTMENT STORE,
CUSTOMER
SERVICE OR ONLINE STORE OPERATIONS.
    * CODETERMINATION NEGOTIATIONS WILL START ON 15 OCTOBER 2021
    * IMPLEMENTATION OF MEASURES WILL START GRADUALLY DURING Q1
OF
2022.
    * STOCKMANN DIVISION CURRENTLY EMPLOYS A TOTAL OF 1 735
PEOPLE, OF
WHOM 1 120 WORK IN FINLAND

Source text for Eikon:  ID:nWkrPVDS4 
Further company coverage:  STOCKA.HE 

 (Reporting by Marie Mannes)
 ((Marie.Mannes@thomsonreuters.com;))