Digitalist Group Plc Stock Exchange Release 07 February 2018 at 13:00
Digitalist Group Plc’s (Digitalist Group or Company) subsidiary Digitalist Finland Plc initiates co-operation negotiations with its Finnish personnel. Demand for the company’s services in two of the company’s long-standing clients is predicted to diminish significantly, and the company contemplates employee reductions in Kemi and Jyväskylä. The negotiations do not concern employees of the programming operations in the office in Helsinki, nor the employees of the offices in Tampere and Oulu. Besides cost savings, the planned reorganisation aims at streamlining the organisation and directing resources to activities which are strategically the most important for the company’s business. The co-operation negotiations are preliminarily estimated to result in the reduction of employment contracts into part-time contracts, layoffs, changes in terms of employment, and employment relationships being terminated. The initial estimate is that the planned changes may lead to a reduction in the number of employees by a maximum of 25 persons.
The co-operation negotiations and other cost-saving measures contemplated by the Company aim to lighten Digitalist Group’s cost structure to correspond to the market conditions and to enhance its profitability in order to create better operating conditions. On group level, the Company aims for annual cost savings of EUR 1.5-2.5 million.
DIGITALIST GROUP PLC
For more information, please contact:
Digitalist Group Plc
CEO Ville Tolvanen, tel. +358 50 3100 642, ville.tolvanen@digitalistgroup.com
CFO Hans Parvikoski, tel. +358 40 586 6154, hans.parvikoski@digitalistgroup.com
http://prlibrary-eu.nasdaq.com/Resource/Download/ccda4128-95c1-4e68-8758-700ca06ca971