Brief: Verkkokauppa Starts Profit Improvement Program, Change Negotiations

Verkkokauppa.com Oyj

16/01/2023 08:07

Jan 16 (Reuters) - Verkkokauppa.com Oyj  VERK.HE :
    * REG-VERKKOKAUPPA.COM LAUNCHES A PROFIT IMPROVEMENT PROGRAM
TO
SECURE ITS PROFITABILITY - THE COMPANY TO INITIATE CHANGE
NEGOTIATIONS
    * LAUNCHING  PROFIT IMPROVEMENT PROGRAM, WITH GOAL OF A
TOTAL
ANNUALIZED PROFIT IMPROVEMENT OF APPROXIMATELY EUR 10 MILLION
    * WILL INITIATE CHANGE NEGOTIATIONS
    * POSSIBLE REDUNDANCIES, PART-TIME SHIFTS AND ESSENTIAL
CHANGES TO
EMPLOYMENT CONTRACTS APPLY TO A MAXIMUM OF 110 PEOPLE
    * CHANGE NEGOTIATIONS WILL COMMENCE IMMEDIATELY AND COVER
VERKKOKAUPPA.COM'S ENTIRE PERSONNEL, APPROXIMATELY 770 EMPLOYEES
    * CHANGE NEGOTIATIONS WILL COMMENCE IMMEDIATELY AND COVER
VERKKOKAUPPA.COM'S ENTIRE PERSONNEL, APPROXIMATELY 770 EMPLOYEES
    * POSSIBLE REDUNDANCIES, PART-TIME SHIFTS AND ESSENTIAL
CHANGES TO
EMPLOYMENT CONTRACTS APPLY TO A MAXIMUM OF 110 PEOPLE
    * PLANNED MEASURES AIM TO ACHIEVE ANNUAL SAVINGS OF EUR 6
MILLION
IN PERSONNEL COSTS
    * OF SAVINGS, EUR 3-4 MILLION ARE EXPECTED TO BE REALIZED IN
SECOND HALF OF 2023 AND IN FULL IN 2024
    * DEPENDING ON OUTCOME OF NEGOTIATIONS, PLANNED
RESTRUCTURING IS
ESTIMATED TO RESULT IN COSTS OF APPROXIMATELY EUR 1.3 MILLION
    * COSTS ARE EXPECTED TO BE RECOGNIZED IN Q2 OF 2023 AND ARE
EXPECTED TO BE FULLY REALIZED DURING 2023

Source text for Eikon:  ID:nGNE5m6LcD 
Further company coverage:  VERK.HE 
 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 7696600;))