Martela Corporation

The market situation, which has remained challenging for a long time, has significantly affected Martela's operating environment, weakening the volume and profitability of Martela's business. In addition, the protracted coronavirus pandemic and the increased uncertainty caused by it have had a negative impact on the prevailing market situation.

Due the above stated reasons, Martela is planning to reorganize and streamline its operations in order to mitigate the adverse effects of the market situation and to adjust its cost structure to the prevailing circumstances. According to the preliminary estimate, the planned actions could result in the need to reduce maximum 40 positions and lead to layoffs of the personnel. The planned actions concern Martela Group's personnel in Finland. The possible measures having affect to the personnel will be implemented after the conclusion of the co-operation negotiations.

"Development of Martela’s operating result has not been satisfactory and it is not foreseeable that market situation which has continued to be challenging for a long time would turn for the better. As a result, the planned restructuring adjustment measures are necessary to ensure our competitiveness and reduce our cost structure. At the same time, we will continue to invest in growth areas that we believe will create value in the long run. These include the increasing need for multi-purpose working and learning environments, which are supported by Martela's Workplace as a Service and Learning environment as a Service", says CEO Artti Aurasmaa.

The Martela Group employees approximately 380 people in Finland.

Martela Corporation

Artti Aurasmaa
CEO

Further information

Artti Aurasmaa, CEO, tel. +358 45 186 1775
Kalle Lehtonen, CFO, tel. +358 40 053 9968

Distribution
NASDAQ Helsinki
Main news media

www.martela.com

Our strategic direction is defined by our mission "Better working" and our vision "People-centric workplaces". Martela provides people centric workplaces where the users and their wellbeing are in the core. We focus on the Nordic countries, as the Nordic countries are forerunner in hybrid working environments with common open work culture background and needs.

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