Aug 23 2010
Artimplant (STO:ARTIB) is following through on its strategy of focusing the company on the market even further and has now concluded negotiations under the Swedish Co-Determination Act, resulting in staff cutbacks within functions not related directly to sales. Once the periods of notice have been completed the annual saving at Artimplant AB will be approximately SEK 5 million.
Artimplant has concluded negotiations under the Co-Determination Act and the company's new proposed organization has been accepted by the staff and trade unions concerned. This will result in staff cutbacks in areas not related directly to sales. The cost of the reorganization is related purely to the periods of notice, which vary from two to six months. Once all the periods of notice have been completed, there will be an annual saving of approximately SEK 5 million.
Artimplant CEO Hans Rosén states: "I'm extremely proud of Artimplant's employees, who have to a man supported the change in strategy and the reorganization that are being implemented. As the parties involved in negotiations under the Co-Determination Act have accepted Artimplant's proposed reorganization, there will be no extra restructuring costs, which will have a positive impact on the company's capital requirements. The reorganization will free up resources for use within an expanded sales organization, which will focus on the key US market."