NoHo Partners has completed co-operation negotiations on continuing temporary layoffs due to the uncertain market situation
NoHo Partners Plc
STOCK EXCHANGE RELEASE 15 June 2020 at 13:15
NoHo Partners has completed co-operation negotiations on continuing temporary layoffs due to the uncertain market situation
On 15 May 2020, NoHo Partners announced it would start co-operation negotiations on continuing temporary layoffs due to the uncertain market situation. The purpose of the negotiations was to predict the financial and production impacts caused by the coronavirus pandemic and adapt to the changed operating environment. The negotiations concerned all of the Group’s employees in Finland, totalling approximately 1,300 employees.
The negotiations on continuing temporary layoffs have been completed. As a result of the negotiations, the continuation of the layoffs, either full-time or part-time, currently concerns approximately 550 employees. The temporary layoffs will last 90 days at most.
The final number of laid-off employees and the duration of the layoffs will be specified further at a later time if the market situation changes.
“The opening of restaurants has worked very well, and no disturbances have occurred. Customer demand has exceeded our operations, and cooperation between restaurant personnel and customers has gone well. From the point of view of restarting the economy and employment, it would be important to lift the restrictions gradually so that we can call the rest of our people back to work,” says Aku Vikström, CEO of NoHo Partners.
More information available from:
Aku Vikström, CEO, NoHo Partners Plc, tel. +358 44 011 1989
Jarno Suominen, Deputy CEO, NoHo Partners Plc, tel. +358 40 721 5655
Distribution:
Nasdaq Helsinki
Major media
www.noho.fi
NoHo Partners Plc is a Finnish group established in 1996, specialising in restaurant services. The company, which was listed on NASDAQ Helsinki in 2013 and became the first Finnish listed restaurant company, has continued to grow strongly throughout its history. The Group companies include some 250 restaurants in Finland, Denmark and Norway. The well-known restaurant concepts of the company include Elite, Savoy, Teatteri, Yes Yes Yes, Stefan’s Steakhouse, Palace, Löyly, Hanko Sushi, Friends & Brgrs and Cock’s & Cows. In 2019, NoHo Partners Plc’s turnover was MEUR 272.8 and EBIT MEUR 30.6. Depending on the season, the Group employs approximately 2,100 people converted into full-time workers.
NoHo Partners corporate website: www.noho.fi
NoHo Partners consumer website: www.ravintola.fi