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Stockmann Oyj Abp Plans to Restructure Marketing Organization within Department Store Division; Changes to Potentially Result in Personnel Reduction of Up to 70 People


Wednesday, 16 Oct 2013 03:00am EDT 

Stockmann Oyj Abp announced that the Company is planning to restructure its Department Store Division’s marketing organization in order to improve the efficiency of marketing processes and to achieve cost savings. This will also allow it to better meet the requirements of the changing media environment. As a consequence of the new organizational model being planned, Stockmann will be launching statutory co-determination negotiations covering about 150 employees in the Department Store Division’s marketing operations in Finland. The negotiation proposal states that the restructuring could lead to a personnel reduction of up to 70 people. Stockmann is targeting annual cost savings of approximately EUR 4 million, which would be implemented to start in 2014 and in full during 2015. 

Company Quote

8.0
0.095 +1.20%
27 Feb 2015