Brief: Oriola To Reduce 83 Positions As A Result Of Restructuring

Oriola Oyj

30/09/2019 07:11

Sept 30 (Reuters) - Oriola Oyj  OKDBV.HE :
    * ORIOLA CORPORATION COOPERATION NEGOTIATIONS COMPLETED
    * AS A RESULT OF RESTRUCTURING, ORIOLA WILL REDUCE IN TOTAL
83
POSITIONS
    * ESTIMATED ANNUAL COST SAVINGS WILL BE APPROXIMATELY 4.5
MILLION
EUROS IN PERSONNEL COSTS
    * SAVINGS ARE EXPECTED TO MATERIALISE IN STAGES STARTING
FROM Q4
OF 2019, GRADUALLY TAKING FULL EFFECT IN 2020
    * NON-RECURRING COSTS RELATED TO PERSONNEL REDUCTIONS ARE
ESTIMATED TO BE APPROXIMATELY 1.6 MILLION EUROS
    * PHARMACY NETWORK IN SWEDEN HAS BEEN REVIEWED AND 9
PHARMACIES
WILL BE CLOSED BY END OF Q1 OF 2020
    * TARGET IS TO DELIVER 20 MILLION EURO ANNUALISED SAVINGS
COMPARED
TO 2018 COST LEVEL.

Source text for Eikon:  ID:nWkr2ztbTM 
Further company coverage:  OKDBV.HE 

 (Gdynia Newsroom)
 ((gdynia.newsroom@thomsonreuters.com; +48 58 772 0920;))