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Home BUSINESSMarimekko to cut 55 jobs
Fri, 15 Jan, 2016 01:47:00 AM
FTimes- Report, Jan 15
Marimekko fabric print in Helsinki. File Photo Lehtikuva.
Textile Company Marimekko on Thursday announced that it is planning to streamline its operations, which is feared to lead to the loss of a maximum of 55 jobs.
The company in a statement attributed the reorganisation to the long-term uncertainty over the global economy and the difficult situation in the Finnish retail trade which have impacted on consumer spending behaviour in the company's main market areas.
“Marimekko will continue its international growth strategy, which is especially important in particular because our domestic market has deteriorated. Currently our cost structure is burdening our competitiveness and profitability,” said Tiina Alahuhta-Kasko, President of the company in the statement.
Reorganisation of the company's operations is to ensure processes and procedures that are cost-efficient and appropriate for an international company, the statement added.
The consultative negotiations will include all operations in Finland with the exception of the personnel in company-owned retail stores. If realised, the planned actions will lead to downsizing the company’s different functions at its Herttoniemi headquarters and factory in Finland.
If implemented to its full extent, the reorganisation can yield annual savings in costs estimated at roughly euro 2.4 million and an improvement in operating result, said the company.
Apart from possible job reductions, the negotiations will also consider possible changes to job descriptions, working methods and the organisation of work, which would have a significant effect on the position of employees, as well as possible outsourcing of some functions.
Marimekko had 444 employees, 330 of whom worked in Finland at the end of September 2015.
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