Innofactor Plc Stock Exchange Release December 19, 2014, at 2:00 PM Finnish time
Innofactor announced on December 16, 2014, that it will start personnel negotiations in Finland concerning the reduction or conversion to part time of less than 10 positions based on financial and productional grounds.
The negotiations have been concluded. Innofactor will cut five positions and convert four full time positions to part time. The actions impact employees who are already temporarily laid off.
These actions will bring cost savings of approximately EUR 0.4 million in 2015. The above mentioned arrangements are not estimated to have a negative impact on net sales.
Espoo, December 19, 2014
INNOFACTOR PLC
Sami Ensio, CEO
Additional information:
Sami Ensio, CEO
Innofactor Plc
Tel. 050 584 2029
Distribution:
NASDAQ OMX Helsinki
Principal media
www.innofactor.com
Innofactor is one of the leading Nordic IT solution providers focused on Microsoft platforms. Innofactor delivers business critical solutions and maintenance services as a system integrator and develops its own software products and services. Innofactor’s own product development is focused on Microsoft’s Windows Azure-based cloud solutions. Innofactor's customers include over 1,000 private and public sector organizations in Finland, Denmark, Sweden and elsewhere in Europe. The company has about 400 motivated and skilled employees in a number of locations in Finland, Denmark, and Sweden. From 2009 to 2013, Innofactor's annual net sales growth has been 43 percent on average. Leading Finnish business publication Kauppalehti selected Innofactor as the most successful company on the Finnish stock exchange in 2013. The Innofactor Plc share is listed in the technology section of the main list of NASDAQ OMX Helsinki Oy.