Inside information: QPR Software Plc starts change negotiations to adapt the company's operations and improving its profitability
QPR SOFTWARE PLC INSIDE INFORMATION 9 May 2023 AT 9 A.M EET
On May 9, 2023, QPR Software Plc will submit a negotiation proposal per the Act on Cooperation to start change negotiations to adapt its operations and cost structure and improve the business's profitability.
According to preliminary estimates, the measures that may be implemented after the change negotiations could lead to personnel temporary layoffs for a maximum of 90 days and, in addition, to the termination of a maximum of nine (9) positions. The scope of the negotiations includes the company's entire personnel, in all its offices, a total of 65 people.
The year 2023 has generally started in an uncertain market situation. Regarding acquiring new customers, the general economic uncertainty has clearly postponed customers' decisions and the start of new tenders. In the current market situation, the company's room for maneuver is tight in terms of cash resources and equity ratio, while operations are still loss-making. The company is actively taking measures to reach the guidance given for the financial year 2023.
The company has already taken cost-saving measures to improve cost efficiency and minimize the effects of the general increase in cost levels in all areas of its business. In change negotiations, the company deals with measures to adapt the company's operation, structure, and related personnel costs to meet the requirements of a scalable business model.
The negotiations will start on May 15, 2023, and last two (2) weeks following the Act on Cooperation.
For further information:
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.