Plans for streamlining and reorganising Martela's operations completed

Martela Corporation, inside information, 15.2.2024, at 14:00

Martela announced on 3.1.2024 that it will initiate plans to streamline and reorganise its organisation in order to mitigate the adverse effects of the market situation and to adjust its cost structure to the prevailing circumstances. At the time, the company estimated that the plans would lead to a reduction of approximately 25 job positions.

Martela has completed its plans to streamline and reorganise its operations. In total, the organisational changes will result in a reduction of 27 job positions. The company will reduce 18 employees through redundancies and additional 9 job positions will be decreased through voluntary resignations. Reductions will be implemented in Finland, Sweden and Norway. The negotiations with the personnel have been conducted in accordance with local labourlaw. The company does not decrease the number of production employees.

The overall organisational changes are estimated to result in annual cost savings of approximately EUR 2 million. The majority of these are expected to be realised already during 2024, mainly starting from the second quarter, and the full savings targets will be achieved during 2025.

The target of the organisational changes is to improve the customer success even further, to strenghten scalability and to react faster to possible market changes.

31 December 2023 Martela Group employed 386 people.

Martela Oyj

Ville Taipale
CEO

Further information:
CEO, Ville Taipale, tel. +358 50 557 2611
VP, People & Sustainability, Suvi-Maarit Kario, tel. +358 40 356 4618
CFO, Henri Berg, tel. +358 40 836 5464

Our updated vision "We create the best places to work" emphasises the constantly changing ways of working and the diversity of work environments, from offices to home offices and other places where work is done. Our strategy "We support our customers' business with Martela Lifecycle solutions" combines furniture and related services into a seamless whole.

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