January 23, 2018 / 8:10 AM / 3 months ago

BRIEF-Stockmann Initiates Negotiations That May Lead To Position Reductions

Jan 23 (Reuters) - STOCKMANN OYJ ABP:

* STOCKMANN CONTINUES ITS EFFICIENCY MEASURES IN SUPPORT FUNCTIONS

* SAYS ‍IS CONTINUING ITS EFFICIENCY MEASURES WITH A TARGET OF ANNUAL COST SAVINGS OF EUR 8 MILLION AT A MINIMUM, TO BE IMPLEMENTED MAINLY BY END OF 2018​

* WILL INITIATE COOPERATION NEGOTIATIONS IN PART OF ITS FINNISH SUPPORT FUNCTIONS AFFECTING APPROXIMATELY 350 EMPLOYEES IN SUPPLY CHAIN, FINANCE AND HR​

* ‍PLANNED MEASURES MAY LEAD TO A REDUCTION OF APPROXIMATELY 95 POSITIONS​

* ‍PROVISION OF APPROXIMATELY EUR 2 MILLION IS BOOKED DUE TO RESTRUCTURING IN Q1 OF 2018.​ Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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