Brief: Tecnotree's Restructuring Results In 116 Layoffs
06/05/2024 14:03
May 6 (Reuters) - Tecnotree Oyj TEM1V.HE :
* COMPLETES THE GLOBAL BUSINESS RATIONALISATION AND
PERSONNEL-RELATED RESTRUCTURING
* RESTRUCTURING PROJECT RESULTED IN REDUCTION OF 116
EMPLOYEES
* TERMINATED ITS TRUSTSTAR PRODUCT OFFERING TO AMERICAN
MORTGAGE
MARKET RESULTING IN SAVINGS OF EUR 1.5 MILLION
* OPEX IMPACT OF THESE EFFICIENCIES WILL RESULT IN COST
SAVINGS OF
EUR 4.5 MILLION IN YEAR 2024 AND FURTHER EUR 7 MILLION IN YEAR
2025
Source text for Eikon: ID:nWkrTSb7D
Further company coverage: TEM1V.HE
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