Mandatum to start change negotiations to streamline its operations

Press release, 21 November 2024 at 1:30 p.m. EET
 

Mandatum Group will start change negotiations. The objective is to maintain competitiveness and streamline support functions.

The change negotiations will begin on 3 December 2024. The negotiations are based on production-related, organisational and financial reasons. The objective is to ensure more efficient and thereby more productive business.  In addition, by streamlining operations the company aims to ensure competitive prices also in the future, while enabling scalable growth.

The negotiations concern approximately 150 employees and mainly focus on support functions. Customer service, portfolio management and sales functions with client responsibilities are excluded from the negotiations.  

“Mandatum’s business has developed well, and we have a very strong solvency position. However, we must ensure continued success and competitiveness also going forward. Each day, we are responsible for managing our funds efficiently, as well as ensuring value for money in our services. Therefore, we now centralise especially our support functions, so that they create maximum value for our customer operations,” says Mandatum Group’s CEO Petri Niemisvirta.

Based on the company’s initial estimate, possible measures include reorganising and combining functions and duties, as well as redundancies. The planned changes may lead to a maximum of 36 redundancies or changes in the terms of employment. The number and the allocation of possible discontinuities will be specified after the negotiations.

“During the negotiations, we aim for good cooperation and provide different kinds of support to our employees,” Niemisvirta continues.

The negotiations will last at least six weeks, if not agreed otherwise during the process.

In January–September 2024, Mandatum Group employed on average 672 people.

Additional information:

Petri Niemisvirta
CEO
petri.niemisvirta[a]mandatum.fi

Niina Riihelä
SVP, Communications, brand and sustainability
Tel. +358 40 728 1548
niina.riihela[a]mandatum.fi

Mandatum in brief
Mandatum is a major financial services provider that combines expertise in wealth management and life insurance. Mandatum offers clients a wide array of services covering asset and wealth management, savings and investment, compensation and rewards as well as pension plans and personal risk insurance. Mandatum offers services to corporate, retail, institutional and wealth management clients. At the centre of Mandatum's success are highly skilled personnel, a strong brand as well as a proven investment track record
mandatum.fi/en/group