MARTELA’S CO-OPERATION NEGOTIATIONS CONCLUDED

Martela has concluded co-operation negotiations concerning Group’s companies in Finland.

As a result of the negotiations, the restructuring of operations will lead to the reduction of approximately 21 jobs. It has also been decided about the possibility to temporarily lay-off personnel either part- or fulltime. Number of personnel and duration of the layoffs will be determined based on market conditions and business needs. Additional savings will be realized through normal retirements and other personnel turnover that will not be replaced in connection to re-organization of the operations.

As a result of the stated actions it is estimated that the Corporation’s cost level will decrease approximately EUR 2.5 million on annual level and the actions will realize essentially during the third quarter of 2021. Any onetime expenses related to dismissals will be clarified during Q1 2021.

Martela Group employees approximately 380 people in Finland.

Martela Corporation

Artti Aurasmaa
CEO


Further information

Artti Aurasmaa, CEO, tel. +358 45 186 1775
Kalle Lehtonen, CFO, tel. +358 400 539 968

Distribution
Nasdaq Helsinki
Main news media

www.martela.com

Our strategic direction is defined by our mission “Better working” and our vision “People-centric workplaces”. Martela provides people centric workplaces where the users and their wellbeing are in the core. We focus on the Nordic countries, as the Nordic countries are forerunner in hybrid working environments with common open work culture background and needs.