INSIDE INFORMATION: HONKARAKENNE HAS COMPLETED THE CHANGE NEGOTIATIONS
30 Juin 2023 - 10:00AM
INSIDE INFORMATION: HONKARAKENNE HAS COMPLETED THE CHANGE
NEGOTIATIONS
HONKARAKENNE OYJ
Stock Exchange
Release Inside information 30 June 2023 at 11:00
INSIDE INFORMATION: HONKARAKENNE HAS COMPLETED THE CHANGE
NEGOTIATIONS
Honkarakenne Oyj has concluded the change negotiations initiated
in May, which concern the company's entire personnel, with the
exception of the members of the Executive Board and the director of
human resources.
In its meeting, the Executive Board has made decisions related
to personnel reductions based on economic, productional and
operational reorganization grounds. The number of personnel in
domestic business, production and support functions, as well as
work tasks, will be adjusted to reflect the current market and
demand situation. In connection with the reorganization of
production, the company evaluates the possible repatriation of
subcontracted products.
At the start of the change negotiations, the company estimates
the need to reduce personnel to be a maximum of 27 person-years. As
a result of the decisions made in the company, 9 employees, 10
clerical employees and 3 senior clerical employees have been
dismissed within the notice periods and they have been released
from work. In addition, the terms of employment of 20 employees, 25
clerical employees and 9 senior clerical employees will be subject
to substantial changes based on dismissal. Changes to the terms of
the employment relationship will be implemented by the fall.
The company's layoff authorization applies to 56 employees, 56
clerical employees and 33 senior clerical employees. Layoffs can be
implemented during 2023 and 2024 if the company's financial or
production situation so requires.
As a result of the decisions and measures taken, the company
will record costs of EUR 0.4 million due to redundancies, personnel
costs and change security services in the income statement in June
2023. According to the company's definition, costs arising from
reorganization are adjustment items that do not affect the
company's adjusted result.
The cost savings achieved by negotiations and other actions
during 2024 are estimated at EUR 1.6 million.HONKARAKENNE OYJ
Marko SaarelainenPresident and CEO
Further information:
Marko Saarelainen, President and CEO, tel. +358 40 542 0254,
marko.saarelainen@honka.com orMaarit Jylhä, CFO, tel. +358 40 594
4099, Maarit.jylha@honka.com
DISTRIBUTION
Nasdaq Helsinki LtdKey mediaFinancial Supervisory
Authoritywww.honka.com
Honkarakenne Oyj manufactures high-quality, healthy and
ecological log homes, holiday homes and public buildings under its
Honka® brand from Finnish solid wood. The company has delivered
85,000 buildings to over 50 countries. House kits are manufactured
in Finland, the company's own factory is located in Karstula. In
2022, Honkarakenne Group's net sales were EUR 73.7 million, of
which exports accounted for 26%. www.honka.com
Honkarakenne Oyj (LSE:0EPR)
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