Renewal of Eezy’s operating model progresses with the aim of €2.8 million in cost savings

EEZY PLC  --  STOCK EXCHANGE RELEASE  -- 6 AUGUST 2024 AT 07:45

Renewal of Eezy’s operating model progresses with the aim of EUR 2.8 million in cost savings 

In June, Eezy Plc launched a new phase in the renewal of its operating models with the aim of taking the company to a new level of productivity and profitability. The company's objective is to have an efficient, competitive and scalable operating model.

The AI-powered ERP system for Staffing services, to be implemented on a large scale during 2024, and the new digital operating model will play a major role in the renewal of the operating model and in increasing productivity. The ERP development project started in 2022.

Eezy has signed a contract with a partner to develop selected financial and human resources functions and scalable processes. Eezy will transfer selected financial and human resources functions to its partner, Accountor. The outsourcing will involve the transfer of some 30 employees to the partner.

As part of the renewal of its operating models, Eezy has also conducted limited change negotiations, as a result of which 15 employment contracts have been terminated. The company has also decided to use its premises more efficiently.

With the phase of the operating model renewal launched in June and the staff reductions that will take place, Eezy expects to achieve a permanent cost benefit of EUR 2.8 million, which will be fully realised in 2025. For 2024, the company expects to achieve cost savings of around EUR 0.8 million. One-time costs of approximately EUR 0.6 million will be recognised in 2024 for the implementation of the renewal.

"As part of our strategy announced in February, we are on our way to a more competitive and operationally efficient Eezy. We are aiming for a significant productivity leap over the 2024 - 2028 strategy period. We operate in a work life service market of over 3 billion, where we are already a company of significant size. During the last year, we have built our organisation and operating model to be ready for scalable growth. We believe that we will achieve significant efficiency and productivity benefits from the implementation of the new operating model we are now planning, as well as from the implementation of our customized AI-powered ERP system in Staffing services," says Siina Saksi, CEO of Eezy.

Further information:

Siina Saksi
CEO
siina.saksi@eezy.fi
Tel. +358 50 550 3912

Joni Aaltonen
CFO
joni.aaltonen@eezy.fi
tel. +358 40 524 7270

Eezy Plc is Finland’s widest expert house on work life, whose mission is to build good work life. We serve our customers in areas such as staffing, corporate cultures design, leadership coaching and development, recruitment, employment services, light entrepreneurship and personnel surveys. We know the pulse of Finnish work life, because we employ about 25,000 people annually, carry out 900 organizational development projects, analyse 200,000 personnel survey responses and conduct 3,300 person assessments. Our revenue was 219 M€ in 2023, and our share is listed on Nasdaq Helsinki. www.eezy.fi