HKScan Corporation Stock Exchange Release 6 August 2014, at 8:00 am
HKScan to initiate statutory negotiations concerning white-collar employees in Finland
HKScan intends to initiate statutory employee negotiations in Finland. The negotiations concern potential headcount reductions associated with the forthcoming restructuring of the Group’s operations in Finland, targeting an annual profit improvement of approximately four million euros. The restructuring process is scheduled to be completed by the end of 2014.
Tough competition in the Finnish meat industry, combined with the impact of export challenges, has had a tangible adverse impact on HKScan Group’s financial performance. HKScan Finland’s year-to-date result was negative.
HKScan plans to continue to harmonizing its organisation and consolidating its structure in order to improve profitability in Finland. With the planned restructuring, HKScan aims to reduce costs, improve operational efficiency and anchor a more business-driven way of working.
The statutory negotiations proposed today and the planned restructuring process will impact the majority of HKScan Group’s office and managerial personnel in Finland, amounting to a total of approximately 400 employees. The anticipated headcount reduction is estimated to concern no more than 75 office or managerial employees. The negotiations will commence on Monday, 11 August 2014 and their estimated duration will be 6-8 weeks. The need for any headcount reduction and the possible number of affected employees will be determined in the course of the negotiations. HKScan currently has on average roughly 2 800 employees in Finland.
For further information:
Samuli Eskola, Executive Vice President, Consumer Business, Finland and Baltics, HKScan Group
Hannu Kottonen, CEO, HKScan Group
Please submit your callback request to:
Marja Siltala, VP Communications, Market Area Finland, firstname.lastname@hkscan.com, tel. +358 10 570 2290
Marja-Leena Dahlskog, SVP Communications, firstname.lastname@hkscan.com, tel. +358 10 570 2142
HKScan is the leading Nordic meat expert. We sell, market and produce high-quality, responsibly-produced pork, beef, poultry and lamb products, processed meats and convenience foods under strong brand names. Our customers are the retail, food service, industrial and export sectors, and our home markets comprise Finland, Sweden, Denmark and the Baltics. We export to close to 50 countries. HKScan’s net sales is EUR 2.1 billion and we have some 7 700 employees, making us one of the Europe’s leading meat companies.
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