Sanoma Corporation, Press Release, 30 May 2014 at 9:00 CET+1
As part of the strategic redesign communicated on 31 October 2013 Sanoma has decided to reorganise its finance function. A major part of the Finance Shared Services will be outsourced to Genpact, a global leader in Business Process Outsourcing. Sanoma aims to improve its flexibility and cost efficiency, adjusting Sanoma’s finance organisation to the changing operating environment.
Genpact is a New York Stock Exchange listed company with more than 64,000 employees focusing on running business processes and operations. The company services many of the world’s leading companies in a wide variety of industries including banking, life sciences and media.
The reorganization of Sanoma’s Finance Shared Services will result in fewer layoffs than initially estimated. After concluding co-operation negotiations with unions in Finland and the Works Council in the Netherlands it is now clear there will be 30 redundancies in Finland and 20 redundancies in the Netherlands; the initial estimate was a total of 65 redundancies.
Additional information
Sanoma’s Communications, Robin Janszen, tel. +31 6 2293 2643 or robin.janszen@sanoma.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 2.1 billion. Sanoma is listed on the NASDAQ OMX Helsinki stock exchange.
About Genpact
Genpact Limited (NYSE: G) is a global leader in transforming and running business processes and operations, including those that are complex and industry-specific. Our mission is to help clients become more competitive by making their enterprises more intelligent through becoming more adaptive, innovative, globally effective and connected to their own clients. Genpact stands for Generating Impact – visible in tighter cost management as well as better management of risk, regulations and growth for hundreds of long-term clients including more than 100 of the Fortune Global 500. Our approach is distinctive – we offer an unbiased, agile combination of smarter processes, crystallized in our Smart Enterprise Processes (SEPSM) proprietary framework, along with analytics and technology, which limits upfront investments and enhances future adaptability. We have global critical mass – 64,000+ employees in 24 countries with key management and corporate offices in New York City – while remaining flexible and collaborative, and a management team that drives client partnerships personally. Our history is unique – behind our single-minded passion for process and operational excellence is the Lean and Six Sigma heritage of a former General Electric division that has served GE businesses for more than 15 years. For more information, visit www.genpact.com.