Martela announced on January 3, 2024 that it will initiate plans to streamline and reorganise its organisation in order to mitigate the adverse effects of the market situation and to adjust its cost structure to the prevailing circumstances. At the time, the company estimated that the plans would lead to a reduction of approximately 25 job positions. Martela has completed its plans to streamline and reorganise its operations.

In total, the organisational changes will result in a reduction of 27 job positions. The company will reduce 18 employees through redundancies and additional 9 job positions will be decreased through voluntary resignations. Reductions will be implemented in Finland, Sweden and Norway.

The negotiations with the personnel have been conducted in accordance with local labourlaw. The company does not decrease the number of production employees. The overall organisational changes are estimated to result in annual cost savings of approximately EUR 2 million.

The majority of these are expected to be realised already during 2024, mainly starting from the second quarter, and the full savings targets will be achieved during 2025. The target of the organisational changes is to improve the customer success even further, to strenghten scalability and to react faster to possible market changes.