Oriola Corporation to begin cooperation negotiations to improve operational efficiency

Oriola Corporation stock exchange release 19 June 2019 at 9 a.m.

Oriola Corporation to begin cooperation negotiations to improve operational efficiency

Oriola Corporation will begin cooperation negotiations on 19 June 2019 concerning in total approximately 3,500 employees in Finland and Sweden. Cooperation negotiations concern all employees, excluding production and finance organisation employees in both countries as well as pharmacy employees in staffing services in Finland.

With cooperation negotiations, the aim is to improve operational efficiency and to continue reorganising operations in the group.

“In February, we started 20by20 Excellence programme to achieve EUR 20 million annualised savings compared to 2018 cost level. As part of the programme, we are systematically reviewing all operations and resources in the group. We continue to renew our organisation, which aims to improve our operations’ efficiency and respond to tightening competitive environment. During this process, we will also evaluate the need for restructuring our pharmacy network in Sweden,” says President and CEO Robert Andersson.

According to the company's preliminary estimate, the planned actions to improve operational efficiency could result in a need to reduce maximum 90 positions. This would be equivalent to an annual cost saving of approximately 4-6 million euros.

Oriola Corporation

Robert Andersson
President and CEO

Further information:

Robert Andersson
President and CEO
Tel. +358 10 429 2109
Email: robert.andersson@oriola.com

Tuula Lehto
Group Communications Director
Tel. +358 40 5885 343
Email: tuula.lehto@oriola.com

Distribution:
Nasdaq Helsinki Ltd.
Key media

Released by:
Oriola Corporation
Corporate Communications
Orionintie 5
02200 Espoo
www.oriola.com