TietoEVRY integration progressing as planned – employee consultations initiated to drive merger-related efficiencies

TietoEVRY integration progressing as planned – employee consultations initiated to drive merger-related efficiencies
16.04.2020 07:38 am

TietoEVRY integration progressing as planned – employee consultations initiated to drive merger-related efficiencies

Banking , M&A Deals

TietoEVRY is taking the next step in the integration to ensure its position as the leading digital services and software company in the Nordics. A unified organization has now been established and the next step involves the drive for merger-related efficiencies. Consultation processes to ensure optimized operations and reduce overlaps have been initiated.

With a unified organization established, the company is taking the next step to drive merger-related efficiencies and a competitive cost structure. Planning and implementation of these efficiencies will proceed throughout the integration.  

With the aim of optimizing functions and roles, the company has now initiated consultation processes with labour unions. It is estimated that the measures will affect globally up to 570 roles in total, including up to 260 in Sweden, 160 in Norway, 80 in Finland and 70 in other countries. The consultation processes will be conducted according to the legislation and practices in each country and are expected to be concluded by the end of the second quarter 2020.

“As an integrated TietoEVRY, we have established our unified organization and leadership and we are now taking the next step to ensure our competitiveness in the market. The actions announced today are related to the structural changes resulting from the merger. While these decisions are difficult due to their impact on personnel, they are necessary given the highly competitive nature of our global industry. We will do our best to support our employees and maintain our business health during this period of change and the coronavirus pandemic,” says Kimmo Alkio, President and CEO. 

Related News

Paymentology eyes the Middle East as competition to attract digital-ready customers grows

UK cloud-based payment processor, Paymentology announces the expansion of its Middle East operation to meet the projected growth of digital banking in the... Read more »

Yolt helps users save on bills through partnership with flexible motor insurance provider By Miles

Yolt, the smart thinking money app, has expanded its network of partners today, announcing a new in-app partnership with pay... Read more »

Allica Bank launches 95-day notice account for personal savers

Allica Bank – the business bank that seeks to empower small and medium sized businesses – has today announced the launch of a 95-day notice account for personal savers. It will... Read more »

RBI publishes second edition of CEE Fintech Atlas

Today, Raiffeisen Bank International (RBI) is launching the second edition of its CEE Fintech Atlas. It provides a profound overview of 19 fintech ecosystems... Read more »

Robocash Group runs pre-IPO round to launch its Philippine neobank

Getting prepared for an initial public offering (IPO) on the Australian Stock Exchange (ASX) in December 2020, Singapore-headquartered ... Read more »

Cognitive Credit and IHS Markit enter strategic alliance to collaborate on global credit data services

Cognitive Credit, the UK-based credit analytics software company, is pleased to announce a new alliance that brings best-in-class credit market data from IHS Markit to the... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel