Basware Corporation, stock exchange release, January 24, 2014 at 08:29
Basware commences co-operation negotiations
Basware will start co-operation negotiations with its personnel for reasons
related to production and financial position, and restructuring of operations.
Growing the Basware Commerce Network and the company globally are key targets
for the company. At the same time the market and customer demand for services
has strongly increased. Company's operational organization needs to be aligned
with these targets.Â Company's current personnel resources, their location and
competences do not fully meet the company's needs and targets.
The aim of the company's planned actions is to adjust the company's cost
structure in declining business sectors. In addition, we are aiming to better
support company's business model and improve company's competitiveness and
The negotiations will effect up to 40 employees from across administration,
support, professional services and R&D. It is estimated that up to 30 employees
will be affected within Finland. The negotiations include Basware personnel
excluding the personnel in Sales and Marketing, Network Services and its Product
Development as well as Product Management unit.
The streamlining of the functions is expected to result in annual savings of
approximately EUR 2.5 million, starting from the second quarter.
Basware will continue its accelerated global growth in accordance with its
strategy. The company aims to make Basware Commerce Network the largest business
commerce network for companies, maintain its product leadership in Purchase-to-
Pay processes, and improve its profit-making ability.
For more information, please contact
Esa TihilÃ¤, CEO, Basware Corporation
Tel. +358 40 480 7098
NASDAQ OMX Helsinki Ltd
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Source: Basware via GlobeNewswire