Inside information: WithSecure starts change negotiations to strengthen its profitability and to align cost structure with its updated strategy

WithSecure Corporation, Inside information, 31 October 2023 at 8:00 EET

Inside information: WithSecure starts change negotiations to strengthen its profitability and to align cost structure with its updated strategy

WithSecure Corporation and its subsidiaries start change negotiations in Finland and local employee consultation processes in other countries with the aim to strengthen profitability and to align cost structure with the updated strategy of the company.

WithSecure has released information about its strategic transformation, and intention to become a partner channel and SaaS model focused cyber security vendor for mid-market customers.

Through the planned streamlined operating model, WithSecure is targeting a cost structure that would strengthen its profitability. To achieve this target, the change negotiations could result in the reduction of approximately 140 positions globally, of which 47 could be in Finland. Global personnel of WithSecure are approximately 1,140.

The company estimates that through the planned changes, as well as other cost savings measures, it could achieve annual cost savings of approximately EUR 20 million. The potential cost savings are expected to be achieved gradually, starting from the first quarter of 2024. 

In Finland, the change negotiations commence on 2 November 2023 and are expected to be completed by latest mid-December 2023. All applicable processes will be conducted in accordance with local legislation in each country.

Contact information:

Charlotte Guillou
Chief People Officer

Laura Viita
VP, Controlling, investor relations and sustainability
WithSecure Corporation
+358 50 487 1044
[email protected]