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Be Group AB (Publ) Initiates Negotiations on Personnel Reductions; Plans to Cut Jobs


Tuesday, 8 Jan 2013 02:30am EST 

Be Group AB (Publ) announced that it will initiate negotiations on personnel reductions within the Group's operations in Sweden and Finland. The number of employees is expected to be reduced by a total of approximately 140 full-time positions. In Sweden approximately 75 persons will be given notice. Within the Finnish operations, negotiations will simultaneously commence to reduce the number of employees by approximately 60, but also to enable future layoffs. Within the Group's operations in other markets, the proposal indicates only limited reductions. The proposed measures will yield annual cost reductions of SEK 65 million and are forecast to gradually begin having an effect in the second quarter of 2013. One-time costs are estimated at between SEK 30 million and SEK 35 million and these costs will be taken in the first quarter of 2013, while the cash flow will mainly be affected during the second and third quarters. 

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