Sanoma Corporation, Stock Exchange Release, 17 March 2014 at 14:35 CET+1
Sanoma plans to reorganise finance functions and adjust print operations as part of the strategic redesign communicated on 31 October 2013.
In total, the reorganisation is estimated to lead to a maximum of 100 redundancies.
Outsourcing planned in the Finance Shared Services
The reorganisation in the finance functions is aimed at adjusting to the changing operating environment, and to improve flexibility and cost-efficiency. At the moment negotiations involve outsourcing a large part of the Finance Shared Services located in Finland to an international provider. Co-operation negotiations will be initiated concerning the entire personnel of Finance Shared Services. The reorganisation is estimated to lead to a maximum of 40 redundancies in Finland and 25 redundancies in the Netherlands.
“Competitive and efficient support functions that support our strategy have a central role in enabling Sanoma’s change. The outsourcing plans unfortunately also mean personnel reductions,” says CFO Kim Ignatius.
Sanomapaino adjusts its operations by initiating co-operation negotiations in three printing houses
The change in the operating environment of newspapers has led to a significant decline in print production volumes. Therefore Sanomapaino will initiate co-operation negotiations at three of its printing houses. According to the current estimate the restructuring may lead to a shift to part-time employment or redundancy of a maximum of approximately 35 employees.
Co-operation negotiations will start at Sanomala Oy in Vantaa, Saimaan Lehtipaino Oy in Lappeenranta and Hämeen Paino Oy in Forssa.
For media inquiries,
Sanoma’s Communications, Hanna Johde, tel. +358 40 673 8977 or firstname.lastname@example.org
Sanoma’s Investor Relations, Olli Turunen, tel. +358 40 552 8907 or email@example.com
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Sanoma is a front running consumer media and learning company in Europe. In Finland and the Netherlands we are the market leading media company with a broad presence across multiple platforms. Our main markets in learning are Belgium, Finland, the Netherlands, Poland and Sweden. In 2013, Sanoma’s net sales totalled EUR 2.2 billion. Sanoma is listed on the NASDAQ OMX Helsinki stock exchange.