HKScan has completed statutory negotiations

HKScan Corporation, Stock Exchange Release, 6 May 2019, 11:00 EEST

HKScan has completed statutory negotiations

In February 2019, HKScan initiated statutory negotiations that affected all white-collar employees and management in all operating countries, as part of a programme to boost operational efficiency (Stock exchange release 6.2.2019). Negotiations followed the legal requirements of each country.

HKScan has now completed country-specific reviews in all markets. The statutory negotiations for Finland were completed in April 2019 (Stock exchange release 3.4.2019).

In total, HKScan reduced its headcount by 183 employees in all markets, including the Swedish headcount reduction of 69. The headcount reduction will be implemented by terminating fixed-term and permanent employment relationships and through retirement arrangements.

With the implemented measures HKScan aims to achieve Group-wide annual savings totalling EUR 10 million. The savings are expected to materialise on a phased basis starting in Q4 2019 and take full effect at the beginning of 2020.

“Our resolute focus is on strengthening our financial situation. As a result of the Group-wide negotiations, the roles and responsibilities in the organization will be clarified and cost competitiveness will be improved. We will utilize the ideas received from our employees to improve our operations in the future,” says HKScan CEO Tero Hemmilä.

HKScan Corporation

Tero Hemmilä

CEO of HKScan

Contact details: HKScan Media Service Desk, tel. +358 (0)10 570 5700 or email: communications@hkscan.com

HKScan is a Nordic meat and meals company. We employ close to 7 200 professionals in striving to serve the world’s most demanding consumers, maintaining quality throughout the full chain of operations, From Farm to Fork. HKScan produces, markets and sells high-quality, sustainably produced pork, beef, poultry and lamb products, as well as charcuterie and meals, with strong consumer brands, including HK®, Scan®, Rakvere®, Kariniemen®, Rose®, Pärsons® and Tallegg®. Our customers are the retail, food service, industrial and export sectors, and our home market comprises Finland, Sweden, Denmark and the Baltics. We export to close to 50 countries. In 2018, HKScan had net sales of EUR 1.7 billion.

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About Us

HKScan is a Nordic meat and meals company. We employ over 7 300 professionals in striving to serve the world ìs most demanding consumers, maintaining quality throughout the full chain of operations, From Farm to Fork. HKScan produces, markets and sells high-quality, sustainably produced pork, beef, poultry and lamb products, as well as charcuterie and meals, with strong consumer brands, including HK®, Scan®, Rakvere®, Kariniemen®, Rose®, Pärsons® and Tallegg®. Our customers are the retail, food service,industrial and export sectors, and our home market comprises of Finland, Sweden, Denmark and the Baltics. We export to close to 50 countries. In 2017, HKScan had net sales of EUR 1.8 billion, making us one of Europe’s leading meat and meals companies.www.hkscan.com

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