Brief: Oriola Plans To Restructure Its Operating Model

Oriola Oyj

04/10/2021 08:06

Oct 4 (Reuters) - Oriola Oyj  OKDBV.HE :
    * ORIOLA PLANS TO RESTRUCTURE ITS OPERATING MODEL AND
INITIATES
COOPERATION NEGOTIATIONS
    * IS STREAMLINING PROCESSES TO IMPROVE OPERATIONAL
EFFICIENCY AND
REDUCE COST FOR INCREASED PROFITABILITY.
    * WILL INITIATE STATUTORY EMPLOYEE COOPERATION NEGOTIATIONS
    * NEGOTIATIONS CONCERN APPROXIMATELY 600 EMPLOYEES IN
FINLAND AND
SWEDEN.
    * ACCORDING TO COMPANY'S PRELIMINARY ESTIMATE, NEGOTIATIONS
COULD
LEAD TO A MAXIMUM REDUCTION OF 130 POSITIONS
    * THIS WOULD BE EQUIVALENT TO AN ANNUAL COST SAVING OF AT
LEAST 7
MILLION EUROS.
    * "DURING MOST RECENT YEARS, ORIOLA'S FINANCIAL PERFORMANCE
HAS
BEEN UNSATISFACTORY" - CEO
    * PLANNED MEASURES WILL NOT AFFECT SECURITY OF
PHARMACEUTICAL
SUPPLY IN FINLAND AND SWEDEN
    * WILL CONTINUE TO SEEK FURTHER MEASURES TO IMPROVE ITS
PROFITABILITY.
    * PLANS TO IMPLEMENT NEW OPERATING MODEL AND STRUCTURE FROM
BEGINNING OF 2022.

Source text for Eikon:  ID:nWkr7Q5drD 
Further company coverage:  OKDBV.HE 

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