Avidly's co-operation negotiations have been completed
Avidly Plc, company release, 26 March 2020 at 8:30 EET
Avidly Group commenced co-operation negotiations on 5 March 2020 due to decreased and negative operating profit of the group in 2019 and the need to reorganize the organization. The negotiations affected all employees of Avidly Marketing Ltd., Avidly Media Ltd. and Avidly Inbound Finland Ltd. as well as employees belonging to Avidly Plc's Helsinki organization.
As a result of co-operation negotiations completed today, 13 employments shall be terminated and 3 employees shall be laid-off for a fixed period during 2020. In addition some persons have resigned during the course of the negotiations. Due to the adjustment measures, Avidly Group shall achieve savings of approximately 1.0 million EUR during the year 2020.
The co-operation negotiations did not affect Sugar Helsinki Ltd. and Avidly Nitroid Ltd.
On 5 March 2020, Avidly Group's total amount of personnel in Finland was 183.
AVIDLY PLC
Jesse Maula, CEO
Additional information:
Jesse Maula, CEO, Tel. +358 40 548 0248
Hans Parvikoski, CFO, Tel. +358 40 586 6154
Oaklins Merasco Oy acts as Avidly Plc's Certified Advisor, tel. +358 9 6129 670
Avidly is Finland's leading marketing service provider and a leading marketing automation company in the Nordics, listed on the Nasdaq First North Growth marketplace in Helsinki. We create an atmosphere for growth to take our customers forward. We are a team of more than 250 navigators and explorers, makers and shakers in 16 locations in Finland, Sweden, Norway, Denmark and Germany. Read more: investors.avidlyagency.com/en