CDON carries out efficiency measures
Qliro Group AB (publ) today announced that the subsidiary CDON carries out efficiency measures as part of the company’s transformation into the leading online marketplace in the Nordics.
CDON is going through a transformation to become the leading online marketplace in the Nordics through the development of CDON Marketplace. As part of this transformation, CDON now takes additional measures in order to strengthen the company’s future competitiveness and growth potential, but also to align the cost structure with the company’s new circumstances.
The efficiency measures include a staff reduction of approx. 35 full time positions at CDON’s office in Malmö. The staff reduction affects all departments within the subsidiary and will be reported as a non-recurring cost of around SEK 15 million, which will be attributed to the result for the first quarter 2016.
Paul Fischbein, President and CEO of Qliro Group, comments: “CDON has gone through significant changes in recent years, not least as a result of the development of CDON Marketplace. Today, the company has over 800 affiliated merchants and the share of sales generated by CDON Marketplace is continuously increasing. As the company develops, it is natural that the staffing needs also change. Therefore, we are now carrying out an efficiency measure in order to ensure that the company can continue to develop in the best way possible. It is never an easy decision to make staff reductions, but it is necessary in order to strengthen CDON’s competitiveness and ensure that the company can continue to develop into the leading online marketplace in the Nordics in an efficient way.”
The information in this announcement is such that Qliro Group AB (publ) is required to disclose under the Swedish Securities Markets Act and/or the Financial Instruments Trading Act. This information was released for publication at 07:58 CET on 27 January 2016.
For further information, please visit www.qlirogroup.com, or contact:
Paul Fischbein, President and CEO
Tel: +46 (0) 10 703 20 00
Questions from media, investors and research analysts:
Erik Löfgren, Head of Communications
Tel: +46 (0) 700 80 75 06
E-mail: press@qlirogroup.com, ir@qlirogroup.com
About Qliro Group
Qliro Group is a leading e-commerce group in the Nordic region. Since the start in 1999, the Group has expanded and broadened its product portfolio and is now a leading e‐commerce player in consumer goods and lifestyle products through CDON.com, Lekmer, Nelly (Nelly.com, NLYman.com, Members.com), Gymgrossisten (Gymgrossisten.com/Gymsector.com, Bodystore.com, Milebreaker.com) and Tretti. The group also comprises the payment solution Qliro. In 2014, the group generated five billion SEK in revenue. Qliro Group’s shares are listed on Nasdaq Stockholm’s Mid-cap list under short name “QLRO”.
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