Plans for streamlining and reorganising Martela's operations completed
February 15 2024 - 6:00AM
UK Regulatory
Plans for streamlining and reorganising Martela's operations
completed
Martela Corporation, inside information, 15.2.2024, at 14:00
Martela announced on 3.1.2024 that it will initiate plans to
streamline and reorganise its organisation in order to mitigate the
adverse effects of the market situation and to adjust its cost
structure to the prevailing circumstances. At the time, the company
estimated that the plans would lead to a reduction of approximately
25 job positions.
Martela has completed its plans to streamline and reorganise its
operations. In total, the organisational changes will result in a
reduction of 27 job positions. The company will reduce 18 employees
through redundancies and additional 9 job positions will be
decreased through voluntary resignations. Reductions will be
implemented in Finland, Sweden and Norway. The negotiations with
the personnel have been conducted in accordance with local
labourlaw. The company does not decrease the number of production
employees.
The overall organisational changes are estimated to result in
annual cost savings of approximately EUR 2 million. The majority of
these are expected to be realised already during 2024, mainly
starting from the second quarter, and the full savings targets will
be achieved during 2025.
The target of the organisational changes is to improve the
customer success even further, to strenghten scalability and to
react faster to possible market changes.
31 December 2023 Martela Group employed 386 people.
Martela Oyj
Ville Taipale
CEO
Further information:
CEO, Ville Taipale, tel. +358 50 557 2611
VP, People & Sustainability, Suvi-Maarit Kario, tel. +358
40 356 4618
CFO, Henri Berg, tel. +358 40 836 5464
Our updated vision "We create the best places to work"
emphasises the constantly changing ways of working and the
diversity of work environments, from offices to home offices and
other places where work is done. Our strategy "We support our
customers' business with Martela Lifecycle solutions" combines
furniture and related services into a seamless whole.
Distribution:
NASDAQ Helsinki
Main news media
www.martela.com
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