Verkkokauppa.com to renew its organization to improve the efficiency of its operations - the company starts change negotiations
Verkkokauppa.com Oyj STOCK EXCHANGE RELEASE - inside information 29 August 2024 at 1.00pm EEST
Verkkokauppa.com is planning a targeted restructuring and streamlining of its organizational structure. The planned restructuring aims to ensure profitable growth, sufficient resources for advancing strategic projects, development of purchasing and assortment management, as well as the ability to utilize technology extensively in the organization.
"Our strategy is to accelerate the online transition. With the planned measures, we want to strengthen our competitiveness by improving the efficiency of our operations. Our organizational structure must meet future needs", Panu Porkka, CEO of Verkkokauppa.com opens changes.
To implement the planned changes, the company will initiate change negotiations in accordance with the Co-operation Act on production-related and financial grounds. The change negotiations will begin on 4 September 2024 and cover approximately 220 employees. The planned measures may lead to termination of up to 45 persons' employment.
The planned changes aim at annual savings of approximately EUR 2.5 million in personnel costs, which will be realized in full in 2025. Depending on the outcome of the negotiations, a one-off cost of approximately EUR 1 million is estimated to be recognized in 2024.
For further information, please contact:
Panu Porkka, CEO, Verkkokauppa.com Oyj
panu.porkka@verkkokauppa.com
Jesper Blomster, CFO, Verkkokauppa.com Oyj
jesper.blomster@verkkokauppa.com
Tel. +358 40 570 3083
Marja Mäkinen, Head of Investor Relations and Corporate Communications, Verkkokauppa.com Oyj
marja.makinen@verkkokauppa.com
Tel. +358 40 671 2999
Verkkokauppa.com is an e-commerce pioneer that stands passionately on the customer's side. Verkkokauppa.com accelerates the transition of commerce to online with Finland's fastest deliveries and ultimate convenience. The company leads the way by offering one-hour deliveries to almost 700,000 customers, a winning assortment and probably always cheaper prices. Every day, the company strives to find more streamlined ways to surpass its customers' expectations and to create a new norm for buying and owning.
Verkkokauppa.com was founded in 1992 and has been online since day one. The company's revenue in 2023 was EUR 503 million and it employs around 700 people. Verkkokauppa.com is listed on the Nasdaq Helsinki stock exchange.
