Avidly Group commences co-operation negotiations to improve efficiency of operations

Avidly Group commences co-operation negotiations to improve efficiency of operations

Avidly Plc, inside information, 5 March 2020 at 08.40

Avidly Group commences co-operation negotiations on 11 March 2020. The negotiations affect employees of Avidly Plc, Avidly Marketing Ltd., Avidly Media Ltd. and Avidly Inbound Finland Ltd.

The reasons for the negotiations are decreased and negative operating profit of the group in 2019 and the need to reorganize the organizations of the companies. 

According to the current estimate, the planned measures may result in termination of employments, part-time employments, lay-offs or other substantial changes in employment terms of maximum of 20 employees in total.

The co-operation negotiations shall be commenced to improve efficiency and to reorganize operations as part of other savings measures. It is estimated that total savings of approximately 1.0 million euros may be achieved with the planned measures.

It is estimated that the co-operation negotiations will be completed during March 2020.

Co-operation negotiations do not affect Sugar Helsinki Ltd. and Avidly Nitroid Ltd.

This release contains information which Avidly Plc makes public pursuant to the EU Market Abuse Regulation, article 17.

AVIDLY PLC
BOARD OF DIRECTORS

Additional information:
Jesse Maula, CEO, Tel. +358 40 548 0248
Hans Parvikoski, CFO, Tel. +358 40 586 6154

Oaklins Merasco Oy acts as Avidly Plc’s Certified Advisor, tel. +358 9 6129 670

Avidly is Finland’s leading marketing and communications service provider and a leading marketing automation company in the Nordics, listed on the Nasdaq First North Growth marketplace in Helsinki. We create an atmosphere for growth to take our customers forward. We are a team of more than 250 navigators and explorers, makers and shakers in 16 locations in Finland, Sweden, Norway, Denmark and Germany. Read more: investors.avidlyagency.com/en