The change negotiations initiated by Netum Group Plc in November have been concluded for all Group companies. The negotiations concerned approximately 40 employees, which corresponds to approximately 10% of the Group's personnel. The negotiations covered the personnel of the parent company Netum Group Plc, who are responsible for the Group's support functions, and Netum Ltd's Cyber Security Services business unit.

The change negotiations have aimed to adjust the cost structure to correspond to the uncertain market situation and to return the company to a profitable growth path aligned with its strategy. With the adjustment measures, the company aims to achieve cost savings of one million euros for 2024.

At the start of the negotiations, Netum estimated that the measures could lead to temporary layoffs and the reduction of a maximum of 13 positions. As a result of the negotiations, the employment of five employees will be terminated. In addition, the company has decided to lay off some of its personnel. The duration of the layoffs varies from 8 to 25 days, and they affect 24 employees. The temporary layoffs will be implemented in 2024. 

The cost savings of one million euros resulting from change negotiations and other cost-saving measures will be realised in full during 2024 in accordance with the goal announced on November 2, 2023.

Further information for media:

Matti Mujunen
CEO, Netum Group Plc
+358 400 476 401
matti.mujunen@netum.fi

Netum Group in brief 

Netum is a strongly and profitably growing IT service partner that builds a functional and secure digital society. We help our customers develop their digital business by designing and implementing sustainable digital solutions tailored to their needs – wisely and responsibly. Netum employs more than 400 people, and the company's revenue in 2022 was EUR 29.1 million. Netum Group Plc's shares are listed on Nasdaq Helsinki First North (NETUM). www.netum.fi