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Sanoma to reorganize finance functions and adjust print operations


Monday, 17 Mar 2014 08:35am EDT 

Sanoma Oyj:To reorganize finance functions and adjust print operations as part of strategic redesign communicated on Oct. 31, 2013.Total reorganization estimated to lead to maximum of 100 redundancies.Reorganization in finance functions aimed at adjusting to changing operating environment and improving flexibility and cost-efficiency.Negotiations involve outsourcing part of Finance Shared Services located in Finland to international provider.Co-operation negotiations to be initiated concerning entire personnel of Finance Shared Services.Reorganization estimated to lead to maximum of 40 redundancies in Finland and 25 redundancies in Netherlands.Co-operation negotiations to be initiated at three of company's printing houses.Restructuring considers potential shift to part-time employment or redundancy of maximum of about 35 employees.Negotiations to take place at Sanomala Oy in Vantaa, Saimaan Lehtipaino Oy in Lappeenranta and Hameen Paino Oy in Forssa. 

Company Quote

4.52
0.07 +1.57%
21 Nov 2014