Raisio plc will start codetermination negotiations

Raisio plc, Stock Exchange Release, August 16, 2021 at 14:00 EET

Raisio plc announced an updated strategy for period 2022–2025 in the Stock Exchange Release published on June 10, 2021. Raisio’s updated strategy is built on three focus areas: Benecol® and plant stanol ester solutions, plant based foods, value added oat products for consumers and oat as raw material for industry. In addition, in the Stock Exchange Release published on August 4, 2021, Raisio plc announced that the way the company operates requires change and the goal is to flatten the organization and share responsibility more widely.

The needed change requires that the company and the way it operates will be reorganized. Hence the company will start codetermination negotiations according the Act on Co-operation within Undertakings due to production-related, financial and re-organizing grounds. Negotiations concern possible restructuring of functions and duties, combinations or terminations based on the new way to operate and in addition the adjustment of the workforce.

Possible effects of the process might lead to the reduction of 20 positions at the maximum. All white collar and senior white collar employees of all Raisio Group’s legal entities in Finland and blue collar workers of Raisioaqua Ltd are in the scope of negotiations. All other blue collar workers are excluded from the negotiations. In total 234 positions are within negotiations.

Aim is to finish the process during October 2021. At the end of June 2021 Raisio employed 335 employees in Finland.

Raisio Plc

Further information:
Pekka Kuusniemi, CEO, 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.