QPR SOFTWARE PLC STOCK EXCHANGE RELEASE 2 MARCH, 2016 AT 5:00 P.M
IMPLEMENTATION OF STREAMLINING PROGRAM IN QPR SOFTWARE
QPR Software has completed co-determination negotiations that it started in February with its personnel. As a result of the negotiations, the Company reduces its annual expenses by approximately EUR 0.7 million. Of the total, EUR 0.1 million is executed by reducing external purchases and EUR 0.6 million through personnel reductions. The streamlining is deemed necessary, since internationalization of the Company´s software products requires investments.
The measures will lead to reduction of 7 permanent employees through redundancies and 2 lay-offs. The implementation of the measures is initiated immediately and personnel reductions have financial and production-related groundings. Initially, in the beginning of the negotiations, the Company estimated that personnel reduction need would be 9 employees.
In 2016, the measures are expected to reduce expenses by approximately EUR 0.4 million after special items.
QPR SOFTWARE PLC
Further information:
Jari Jaakkola, CEO
Tel. +358 (0) 40 5026 397
DISTRIBUTION:
NASDAQ OMX Helsinki Ltd
Main Media
www.qpr.com
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