QPR Software Plc's change negotiations to adapt the company's operations, structure and related personnel costs to reflect the change in business focus have ended
QPR SOFTWARE PLC STOCK EXCHANGE RELEASE 10 October 2023 AT 9 A.M EET
On 19 October 2023, QPR Software Plc announced its plans to start change negotiations in order to to adapt the company's operations, structure and related personnel costs to reflect the change in business focus. The change negotiations have been completed on Thursday 9 November 2023.
As a result of the negotiations, the company terminates a maximum of nine (9) positions. According to preliminary estimates, the company estimated that the adjustment measures will lead to temporary layoffs of the personnel for a maximum of 90 days and in addition, for a maximum of nine positions to end. The scope of the negotiations included the company's consulting business unit’s personnel, in all its offices, a total of 14 people.
The adjustment measures are based on the company’s strategy of profiling more strongly as a software and SaaS (Software-as-a-Service) player and as a consultant for its core business areas. The company is also re-positioning itself as a leading player in Digital Twin of an Organization (DTO) technology.
Additionally, On 16 October 19, 2023, the company gave a profit warning where it stated, that some of the consulting projects in the domestic public sector outside the core business have ended prematurely or they are occurring on a smaller scope than originally expected. The company stated that this will reduce the net sales at the end of the year, and the company's net sales for the whole fiscal year will remain at the level of the previous year, while the growing software business compensates for the decrease.
For further information:
Heikki Veijola
Chief Executive Officer
QPR Software Plc
Tel. +358 40 922 6029
About QPR Software
QPR Software Plc (Nasdaq Helsinki) provides process mining, performance management, and enterprise architecture solutions for digital transformation, strategy execution, and business process improvement in over 50 countries. QPR software allows customers to gain valuable insights for informed decisions that make a difference.
DISTRIBUTION
Nasdaq Helsinki
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www.qpr.com
