HKScan has completed statutory negotiations in Finland

HKScan Corporation, Stock exchange release, 3 April 2019 13:00 (EEST)

HKScan has completed statutory negotiations in Finland

In February 2019, HKScan initiated the Group-wide statutory negotiations affecting all white collar employees and management as part of a programme to boost operational efficiency (stock exchange release 6.2.2019).

HKScan has completed its country-specific negotiations in Finland. Negotiations concerning the integration of the Categories and Concepts organization have also been completed for Finland.

As an outcome of these two processes, HKScan will reduce its headcount in Finland by 74 employees. The headcount reduction will be implemented by terminating fixed-term and permanent employment contracts and through retirement arrangements.

Negotiations are still ongoing in other countries following the legal requirements of each country. When Group-wide negotiations are completed, HKScan will make an announcement regarding the potential outcomes and impacts on personnel in all operating countries.

As announced in an earlier stock exchange release dated 6.2.2019, HKScan plans to implement measures to achieve a Group-wide annual saving totaling EUR 10 million. Finland’s headcount reduction will account for a share of this targeted cost cut. The savings are expected to materialise on a phased basis starting in Q4 2019, gradually taking full effect at the beginning of 2020.

“We plan to work hard and focus our efforts on improving our financial situation. During the recent negotiations, we were pleased to hear useful ideas from our personnel for clarifying the roles and responsibilities in the organization and improving our future performance. We will put those ideas to work in our forthcoming systematic efforts to improve our efficiency and competitiveness,” says HKScan CEO Tero Hemmilä.

HKScan Corporation

Tero Hemmilä

CEO of HKScan

For further information: 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 of 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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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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