Inside information: Fondia Plc starts change negotiations in Finland to improve the efficiency of its operations

Fondia Plc

Company release, inside information

3.12.2024 at 9.10 a.m. EET

In accordance with the Act on Cooperation, Fondia will start change negotiations of the entire personnel of the Finnish company based on production-related and financial grounds. The aim is to optimize and reorganise operations, thereby increasing the company's productivity and competitiveness.

The negotiations will commence on December 11, 2024, and will last at least six weeks, unless another negotiating timetable is agreed in the negotiations. The negotiations concern all Finnish personnel, a total of 130 employees. According to the company's preliminary assessment, main measures include reorganisation and consolidation of operations and tasks, as well as employee reductions. The plans may lead to a maximum of 20 redundancies and changes to the essential terms and conditions of employment of 22 employees in Finland. The change negotiations are projected to result in savings of approximately 1.3 million euros by 2025.

"People and culture are at the heart of our strategy, and the change negotiations are affecting them in a particularly unfortunate way. This measure is required in the current market situation and to ensure that our operations addresses future needs in the legal services market. In the negotiations, we will strive for good cooperation and act in accordance with our values," says Harri Savolainen, Group CEO.

Fondia will inform its employees about the progress of the negotiations and will announce the outcome publicly after the negotiations have been concluded.

The change negotiations are part of a Group-wide savings programme planned for 2025, which will include a comprehensive review of the company's cost structures.

Fondia Plc


For further information, please contact:

Group CEO Harri Savolainen, tel. +358 40 502 1919


Certified Adviser Aktia Alexander Corporate Finance Oy, tel. +358 50 520 4098


Fondia in brief

Fondia solves the legal needs of companies by combining the best services from internal legal departments and law firms. Fondia operates in Finland, Sweden, Estonia, and Lithuania, and the Group's net sales in 2023 were EUR 26.1 million. Fondia employs around 190 people. 

www.fondia.com

Distribution: 

Nasdaq Helsinki Ltd 
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