Vitrolife evaluates measures to temporarily reduce staff costs
Vitrolife has previously announced that the company estimates that there will be a significant negative effect on the second quarter due to the reduced demand associated with the Coronavirus outbreak. The company has evaluated the situation and, if appropriate, will use the support packages in the countries concerned to temporarily reduce staff costs.
Vitrolife estimates that the Coronavirus outbreak will have a significant negative impact on the demand for IVF treatments during the second quarter. The company has evaluated the situation and, if appropriate, will use the support packages in the countries concerned to temporarily reduce staff costs without carrying out terminations. The company will evaluate these opportunities and conduct negotiations with the concerned parties. The company's intention is to end these temporary measures as soon as demand is normalised.
Gothenburg, 24 March 2020
VITROLIFE AB (publ)
Thomas Axelsson, CEO
Queries should be addressed to:
Thomas Axelsson, CEO, tel 46 31 721 80 01
Mikael Engblom, CFO, tel 46 31 721 80 14
This information is information that Vitrolife AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 8.30 am CET on March 24, 2020.
This is a translation of the Swedish version of the press release. When in doubt, the Swedish wording prevails.
Vitrolife is an international medical device Group. Vitrolife develops, produces and markets medical devices for assisted reproduction.
Vitrolife has approximately 400 employees and the company's products are sold in about 110 markets. The company is headquartered in Gothenburg, Sweden, and there are also offices in Australia, Belgium, China, Denmark, France, Germany, Italy, Japan, United Kingdom and USA. The Vitrolife share is listed on NASDAQ Stockholm.
Vitrolife AB (publ), Box 9080, SE-400 92 Göteborg, Sweden. Corporate identity number 556354-3452. Tel: 46 31 721 80 00. Fax: 46 31 721 80 99. E-mail: email@example.com. Website: www.vitrolife.com/