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Tuesday, 16.04.2024, 06:11
Stockmann posts EUR 61 mln in turnover in 2013
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The company's profit amounted to EUR 632,506 last year, a 49% decrease on 2012.
As reported, Stockmann plans to reorganize its warehouse system, liquidating up to 250 jobs in Finland and Latvia within the next two years, the company announced this past February.
Up to 200 people will be made redundant in Finland as Stockmann centralizes its operations at a new environmentally-certified distribution center in Tuusula, some 30 kilometers north of Helsinki.
The new system will replace some workers with machines. Although the automation technology provider has not yet been chosen, the company estimates that it will lower costs by about EUR 6.5 million annually beginning in 2018.
The other fifty job cuts will be in Latvia. Distribution in the Baltic countries will be handled from Tuusula as of 2017.
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