Martela has concluded co-operation negotiations concerning Group’s companies in Finland except subsidiary company Kidex Oy.
As a result of the negotiations, approximately 40 jobs will be reduced, most of them through dismissals. It has also been decided about the possibility to temporarily lay-off personnel for a maximum of 90 days. Additional savings will be realized through normal retirements and other personnel turnover that will not be replaced in connection to re-organization of the operations. As a result of the stated actions it is estimated that the Corporation’s cost level will decrease approximately EUR 2 million on annual level and the actions will realize essentially by the end of 2019. Any onetime expenses related to dismissals will be clarified during Q3 2019.
The measures decided in the personnel negotiations were due to the Group's need to improve its efficiency and competitiveness. The decided actions are part of Martela's savings program which aims to achieve an annual level cost savings of EUR 4 million. The savings program will be implemented by the end of 2020, after which the full impact of the savings will be realized.
The Martela Group employees approximately 430 people in Finland.
Matti Rantaniemi
CEO
Further information
Matti Rantaniemi, CEO, tel. +358 50 465 8194
Kalle Lehtonen, CFO, tel. +358 400 539 968
Distribution
Nasdaq OMX Helsinki
Key news media
www.martela.com
Our strategic direction is defined by our mission “Better working” and our vision “People-centric workplaces”. Martela supplies user-centric workplaces where the users and their wellbeing are what matter most. We focus on the Nordic countries because, based on our common open work culture and needs, the Nordic countries are leaders in hybrid workplaces.