Verkkokauppa.com Completes Organizational Restructuring
Verkkokauppa.com Oyj has recently completed significant change negotiations aimed at renewing and streamlining its organizational structure. This initiative is designed to foster profitable growth and enhance operational efficiency across various departments.
Goals for Organizational Change
The restructuring plan, announced on 29 August, focuses on several key areas. Among these objectives are ensuring the company has the right resources to support strategic projects, improving purchasing and assortment management, and leveraging technology more effectively within the organization.
Impact of Change Negotiations
The change negotiations commenced on 4 September and involved around 220 employees. Initially, it was anticipated that up to 45 employees might be affected, but the final count resulted in a reduction of 33 positions. Additionally, seven employment contracts concluded during this period will remain unfilled.
Support for Affected Employees
To provide support for those impacted by these changes, Verkkokauppa.com is offering a comprehensive change security package to all dismissed individuals, which includes personal career coaching, change training, and employment services. This initiative demonstrates the company's commitment to ensuring a smooth transition for its employees while maintaining a supportive environment.
Financial Implications of Restructuring
The personnel reductions are expected to generate annual savings of approximately EUR 2.5 million in personnel costs, which will be realized in full by 2025. However, the restructuring efforts will incur costs estimated at EUR 0.9 million, which will primarily be accounted for in the final quarter of 2024.
About Verkkokauppa.com
Established in 1992, Verkkokauppa.com has grown to become a leading retailer of consumer electronics and leisure products in Finland. Catering to both consumers and businesses, the company has a robust online presence complemented by four megastores. With an impressive 80 million annual visitors and a scalable business model, Verkkokauppa.com generated revenues of EUR 503 million in 2023 and employs around 600 dedicated professionals.
Contact Information
For more insight into this change, please reach out to:
Panu Porkka, CEO, Verkkokauppa.com Oyj
panu.porkka@verkkokauppa.com
Jesper Blomster, CFO, Verkkokauppa.com Oyj
jesper.blomster@verkkokauppa.com
Tel. +358 40 570 3083
Marja Mäkinen, Head of Investor Relations and Corporate Communications,
Verkkokauppa.com Oyj
marja.makinen@verkkokauppa.com
Tel. +358 40 671 2999
Frequently Asked Questions
What changes has Verkkokauppa.com implemented?
Verkkokauppa.com has undergone organizational restructuring to streamline operations and enhance efficiency.
How many employees were affected by the restructuring?
A total of 33 employees will be affected, and seven additional contracts will not be filled.
What support is being offered to affected employees?
The company is providing a change security package that includes career coaching and employment services.
What are the expected financial savings from these changes?
The restructuring is expected to save approximately EUR 2.5 million annually in personnel costs.
When did the change negotiations begin?
The change negotiations started on 4 September and have recently concluded.