Betolar’s change negotiations concluded: the company responds quickly to the changed demand in the needs of the green transition in the side-stream, mining and metal industries
Betolar Plc
Press Release 7 June 2024 at 2:45 PM EEST
Betolar’s change negotiations concluded: the company responds quickly to the changed demand in the needs of the green transition in the side-stream, mining and metal industries
Betolar Plc’s change negotiations according to the Co-operation Act, initiated in April, have been concluded. The negotiations concerned the personnel in Finland. The aim of the change negotiations has been to make changes to the organizational structure, the adoption of new operating models and practices, and the reduction of fixed costs. These changes aim at implementing a strategic realingment so that the company can quickly respond to the changed demand in the needs of the green transition in the side-stream, mining, and metal industries.
With a simplified organizational structure and operating model, Betolar ensures the cost-effective implementation of its growth strategy and strengthens its long-term competitiveness. At the start of negotiations, the company estimated the need for personnel reduction to be at most 20 employees. During the change negotiations the actual number of layoffs decreased from the estimate due to internal transfers within the organization and resignations that occurred during the negotiations. As a result of the change negotiations, 13 job positions will be terminated in Finland.
Betolar Plc
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Tuija Kalpala, President and CEO, Betolar, +358 50 567 6608
About Betolar
Betolar Plc is a pioneering Finnish materials technology company driving the green transition in mining and construction. Betolar’s mission is to help reduce CO₂ emissions and the use of virgin natural resources.
Betolar develops low-carbon and waste-free solutions for the mining and metals industries, and its Geoprime® solution produces i.a. the world's lowest-emission hollow-core slabs. Betolar’s AI-powered Data Platform turns industrial side streams into value, accelerates solution development and builds global markets for side streams.
Betolar was founded in 2016 and is domiciled in Kannonkoski, Finland. Betolar is listed on the Nasdaq First North Growth Market. For more information, visit www.betolar.com.