QPR Software Plc's change negotiations to adapt the company's operations and improving its profitability have ended
30 Maio 2023 - 3:00AM
QPR Software Plc's change negotiations to adapt the company's
operations and improving its profitability have ended
QPR SOFTWARE
PLC
STOCK EXCHANGE
RELEASE
30 May 2023 AT 9 A.M EET
On May 9, 2023, QPR
Software Plc announced its plans to start change negotiations in
order to adjust its operations and cost structure, as well as to
improve the profitability of the business. The change negotiations
have been completed on Monday 29 May 2023.
As a result of the
negotiations, the company terminates a maximum of seven (7)
positions and lays off temporarily a maximum of 36 people.
According to preliminary estimates, the company estimated that the
adjustment measures will lead to temporary layoffs of the personnel
for a maximum of 90 days and, in addition, for a maximum of nine
(9) positions to end. The scope of the negotiations included the
company's entire personnel, in all its offices, a total of 65
people.
The adjustment measures
are generally based on an uncertain market situation. The company
has said that in terms of new customer acquisition, the general
economic uncertainty has clearly postponed customers' decisions and
the start of new tenders. In the current market situation, the
company's room for maneuver is tight in terms of cash resources and
equity ratio, while operations are still loss-making. The company
is actively taking measures to reach the guidance given for the
financial year 2023.
The company has also
taken cost-saving measures to improve cost efficiency and minimize
the effects of the general rise in cost levels in all areas of its
business. In the change negotiations, the company discussed
measures aimed at adapting the company's operation, structure, and
related personnel costs to meet the requirements of a scalable
business model.
For further
information:
Heikki
Veijola
Chief Executive
Officer
QPR Software
Plc
Tel. +358 40 922
6029
About QPR
Software
QPR Software Plc (Nasdaq
Helsinki) provides process mining, performance management, and
enterprise architecture solutions for digital transformation,
strategy execution, and business process improvement in over 50
countries. QPR software allows customers to gain valuable insights
for informed decisions that make a difference.
www.qpr.com
DISTRIBUTION
Nasdaq
Helsinki
Key
medias
www.qpr.com
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