Raisio plc has completed its codetermination negotiations

Raisio Plc, stock exchange release 6 October 2021, 8:00 a.m. EET

Raisio’s goal is to advance its updated strategy by changing its operational methods and flattening its organisation. The codetermination negotiations, which were initiated in August for this purpose, have now been concluded. The motivation for the negotiations were production-related, financial and re-organizing grounds as well as the need to adjust the workforce to better correspond to regular seasonal fluctuations each year.

On 23 August 2021, Raisio issued its proposal for negotiations in accordance with the Act on Co-operation within Undertakings (334/2007). At that point, the assumption was that the negotiations might lead to the reduction of no more than 20 positions.

The working groups holding the negotiations deliberated over the optimal way to organise the company in terms of its strategy. The end result of the negotiations was the reduction of 13 positions at Raisio Group’s legal entities operating within Finland. The reduction of the positions will be implemented through the restructuring of functions and duties, the ending of fixed-term employment relationships and terminations. A total of seven employment relationships will be terminated.

Furthermore, the negotiations led to the decision to adjust the workforce at Raisioaqua to better correspond with regular annual seasonal fluctuations. Additionally, the capacity of the esterification plant shall be adjusted to correspond to the working hours required by its intensified activities by laying off production personnel. The duration of the lay-offs will be from two to three months and they will be implemented at the end of this year and during next year.

The negotiations concerned all white collar and senior white collar employees of all Raisio Group’s legal entities in Finland as well as blue collar employees of Raisioaqua Ltd. In total, 234 positions fell within the scope of the negotiations.

Raisio plc

Further information:
Pekka Kuusniemi, CEO, Raisio plc, tel. +358 50 537 3883

RAISIO PLC
Raisio’s purpose is to make food which is good for Health, Heart and Earth. Our growth drivers and focus areas are Benecol® and plant stanol ester solutions, plant based foods, branded oat products for consumers and oat as raw material for industry. Our strong brands include for example, Benecol®, Beanit®, Elovena®, Sunnuntai®, Torino® and Benella®. In our products the focus is on well-being, health, good taste and responsibility. Raisio's values − courage, fairness and drive − guide us towards our targets. Raisio’s shares are listed on Nasdaq Helsinki Ltd. In 2020, the Group’s net sales totaled EUR 234 million and EBIT was EUR 28 million. Raisio employs about 400 people. www.raisio.com.