Wetteri Plc
Stock Exchange Release / Inside Information
27 August, 2025 at 9.00 a.m. EET
Insider information: Wetteri initiates change negotiations
Wetteri is initiating change negotiations aimed at adjusting costs and the organization to meet the company's financial situation as well as the prolonged challenging market situation.
The goal of the negotiations is to reorganize work so that the company functions will be able to operate as efficiently, productively, and profitably as possible. The planned measures target approximately EUR 4 million in annual personnel cost savings. In addition, the aim is to harmonize job descriptions and align organizational structures. If implemented, these measures may result in the termination or reorganization of certain job functions.
All white collar employees and upper white collar employees of Wetteri Plc's subsidiaries Wetteri Auto Oy and Wetteri Yhtiöt Oy, excluding management team members, will be included in the negotiations. According to the company's preliminary estimate, the need for personnel reductions is approximately 55 person-years. In addition, changes to job descriptions based on grounds for termination are being considered for about 20 people.
The negotiations do not concern mechanics, painters, or fitters working at Wetteri Auto Oy, nor the personnel of Suvanto Trucks Oy and Lahden Rekkapaja Oy. Wetteri Group employs approximately 775 people, of whom around 410 are white collar employees and upper white collar employees covered by the negotiations.
"In the company's current financial situation, it is important to focus on operational efficiency and improving profitability. The planned measures are difficult for our personnel, but necessary for the company's performance. We will support those affected by the measures in finding new employment and retraining," says Pietu Parikka, Wetteri's CEO.
The measures now announced are not included in the profitability program published in May 2025, which aims for an annual profitability improvement of EUR 8 million.
The change negotiations will begin on 3 September 2025, and will be conducted in accordance with the Act on Co-operation within Undertakings and collective agreements. The negotiations are expected to conclude no earlier than 24 September 2025. Wetteri will inform about the outcome after the negotiations are completed.
WETTERI PLC
Pietu Parikka
CEO
Further information:
Pietu Parikka, CEO, Wetteri Plc, Tel. +35850 344 2886
Wetteri Plc - an entrepreneur-driven growth company in the automotive industry
Wetteri Plc is an entrepreneur-driven growth company in the automotive industry. In addition to the retail trade of passenger, commercial and heavy-duty vehicles, the company provides maintenance and damage repair services ranging from passenger cars to heavy-duty vehicles. The company has 35 offices in Finland, and its head office is located in Oulu. The company employs approximately 800 people, of whom approximately 76% work in maintenance and damage repair services. Wetteri is a promoter of the digitalisation of the automotive industry and an important player in the joint journey towards emission-free driving. More information: www.sijoittajat.wetteri.fi/en/.
Distribution:
Nasdaq Helsinki
Major media
www.sijoittajat.wetteri.fi/en/