Fortum conducts change negotiations in its Consumer Solutions business and IT unit

FORTUM CORPORATION PRESS RELEASE 26 JANUARY 2024 AT 9.00

As part of Fortum’s efficiency programme launched in November 2023, Fortum Consumer Solutions business unit and the IT unit are conducting change negotiations on possible redundancies. In total, the negotiations concern some 1,080 employees in Finland, Sweden, Norway and the IT unit in Poland. According to a preliminary estimate, change negotiations could result in the redundancies of a maximum of 130 job positions.

The objective of reorganising operations is the need to adjust to Fortum’s organisation to reflect the company’s new structure and operating model as well to improve profitability and ensure competitiveness over time.

With its efficiency programme, Fortum targets to reduce its annual fixed costs by EUR 100 million gradually until the end of 2025. The reduction of EUR 100 million corresponds to some 10% of the Group’s fixed costs for the year 2022. The efficiency programme includes strategic prioritisation and assessment of allocated resources as well as turnaround actions for underperforming businesses. As communicated in November 2023 when introducing the efficiency program, reaching the programme’s targets is expected to require personnel reductions.

Further information

Investors and analysts:

Ingela Ulfves, Vice President, Investor Relations and Financial Communications, tel. +358 40 515 1531

Rauno Tiihonen, Director Investor Relations, tel. +358 10 453 6150
 

Media:
Fortum News Desk, tel. +358 40 198 2843

Fortum  
Fortum is a Nordic energy company. Our purpose is to power a world where people, businesses and nature thrive together. We are one of the cleanest energy producers in Europe and our actions are guided by our ambitious environmental targets. We generate and deliver clean energy reliably and help industries to decarbonise their processes and grow. Our core operations in the Nordics comprise of efficient, CO2-free power generation as well as reliable supply of electricity and district heat to private and business customers. For our ~5 000 employees, we commit to be a safe, and inspiring workplace. Fortum's share is listed on Nasdaq Helsinki. fortum.com