Ponsse’s personnel reductions smaller than estimated
PONSSE PLC PRESS RELEASE, 6 MAY 2024 AT 8:12 AM
Ponsse’s personnel reductions smaller than estimated
Changes in Ponsse’s operating model and related cooperation negotiations resulted in the termination of 21 employment contracts in Finland and about 40 outside Finland. Previously, the changes were estimated to cause the termination of 120–140 employment contracts in the company, of which 50–60 would have been in Finland. However, the number of terminated employment contracts was smaller than estimated after dozens of the company’s employees were reassigned to new positions that resulted from the changes in the operating model.
Ponsse announced that the planning process for the changes in the operating model and related cooperation negotiations had been completed on 3 April 2024 when the number of dismissals was not yet known due to internal recruitment.
A global organisational structure
In the new operating model to enter into force at the beginning of June 2024, Ponsse will shift to a global organisational structure and reporting lines. With this operating model, Ponsse will secure globally harmonised and effective operations that respond to future customer needs. At the same time, the company aims to increase its competitiveness and cost-effectiveness, and to harmonise its practices. With focus on sales and maintenance, the organisation will be divided into five market areas: 1) Nordic countries and the Baltics; 2) Europe; 3) South America; 4) North America; and 5) Asia, Australia and Africa.
Vieremä, 6 May 2024
PONSSE PLC
Juho Nummela
President and CEO
FURTHER INFORMATION
Juho Nummela, President and CEO, tel. +358 400 495 690
Ponsse Plc specialises in the sale, production, maintenance and technology of cut-to-length method forest machines, and is driven by a genuine interest in its customers and their business operations. Ponsse develops and manufactures sustainable and innovative harvesting solutions based on customer needs.
The company was established by forest machine entrepreneur Einari Vidgrén in 1970 and has been a leader in timber harvesting solutions based on the cut-to-length method ever since. Ponsse is headquartered in Vieremä, Finland. The company’s shares are quoted on the NASDAQ OMX Nordic List.