Inside information: QPR Software Plc starts change negotiations to adapt the company's operations, structure and related personnel costs to reflect the change in business focus
QPR SOFTWARE PLC INSIDE INFORMATION 19 October 2023 AT 9 A.M. EET
On 19 October 2023, QPR Software Plc will submit a negotiation proposal per the Act on Cooperation to start the change negotiations.
QPR announced on 5 September 2023 that as part of its strategy, the company is re-positioning itself even more strongly as a software and SaaS player and as a consultant for its core business areas as well as a leading player in Digital Twin of an Organization (DTO) technology.
On 16 October 19, 2023, the company gave a profit warning where it stated, that some of the consulting projects in the domestic public sector outside the core business have ended prematurely or they are occurring on a smaller scope than originally expected. This will reduce the net sales at the end of the year, and the company's net sales for the whole fiscal year will remain at the level of the previous year, while the growing software business compensates for the decrease.
In change negotiations, the company deals with measures aimed at adapting the company's operation, structure, and related personnel costs to reflect the change in business focus and the company's long-term vision and goals.
The scope of the negotiations includes the personnel of the company's consulting business unit, in all offices, a total of 14 people.
According to preliminary estimates, the measures that may be implemented after the change negotiations could lead to temporary layoffs of the personnel of the consulting business unit for a maximum of 90 days and, in addition, to the termination of a maximum of nine (9) positions.
The negotiations will start on 26 October 2023 and last two (2) weeks following the Act on Cooperation.
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
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Nasdaq Helsinki
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www.qpr.com
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