Brief: Marimekko: Consultative Negotiations Have Ended

Marimekko Oyj

08/10/2020 06:48

Oct 8 (Reuters) - Marimekko Oyj  MMO1V.HE :
    * MARIMEKKO’S CONSULTATIVE NEGOTIATIONS HAVE ENDED – THE NEW
ORGANIZATION FURTHER STRENGTHENS CUSTOMER-CENTRICITY AND
OMNICHANNEL APPROACH IN AN INCREASINGLY DIGITAL MARKET
    * IT WAS CONCLUDED THAT REORGANIZATION CAN BE ACHIEVED WITH
FAIRLY
MODERATE JOB REDUCTIONS WHILE ATTAINING TOTAL ANNUAL COST
SAVINGS OF AROUND EUR 1.3 MILLION
    * MOST OF PROFIT IMPACT OF COST SAVINGS WILL BE VISIBLE AS
OF Q4
OF 2020, WHEN COMPANY WILL ALSO BOOK A RESTRUCTURING PROVISION
OF APPROXIMATELY EUR 0.6 MILLION RELATED TO PERSONNEL
REDUCTIONS.
    * IN FINLAND, REORGANIZATION AND STREAMLINING OF OPERATIONS
WILL
INVOLVE A MAXIMUM OF 52 JOBS AND WILL LEAD TO TERMINATION OF AT
LEAST 20 JOBS.
    * ACCORDING TO COMPANY'S ESTIMATE, 32 PEOPLE WILL BE OFFERED
A NEW
OR A MODIFIED JOB
    * MOST OF PROFIT IMPACT OF COST SAVINGS WILL BE VISIBLE AS
OF Q4
OF 2020, WHEN COMPANY WILL ALSO BOOK A RESTRUCTURING PROVISION
OF APPROXIMATELY EUR 0.6 MILLION RELATED TO PERSONNEL
REDUCTIONS.
    * REORGANIZATION WILL ALSO AFFECT MARIMEKKO'S ORGANIZATIONS
IN
SCANDINAVIA, NORTH AMERICA AND AUSTRALIA AND WILL LOCALLY LEAD
TO RESTRUCTURING OF SOME JOBS.
    * WILL PROVIDE SUPPORT FOR ALL THOSE LOSING THEIR JOBS,
INTRODUCING THEM TO ALTERNATIVE PATHS TO RE-EMPLOYMENT.

Source text for Eikon:  ID:nGNE1m6h5B 
Further company coverage:  MMO1V.HE 

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