CDON is going through a transformation to become the leading online marketplace in the Nordics through the development of CDON Marketplace. As part of this transformation, CDON now takes additional measures in order to strengthen the company’s future competitiveness and growth potential, but also to align the cost structure with the company’s new circumstances.
The efficiency measures include a staff reduction of approx. 35 full time positions at CDON’s office in Malmö. The staff reduction affects all departments within the subsidiary and will be reported as a non-recurring cost of around SEK 15 million, which will be attributed to the result for the first quarter 2016.
Paul Fischbein, President and CEO of Qliro Group, comments: “CDON has gone through significant changes in recent years, not least as a result of the development of CDON Marketplace. Today, the company has over 800 affiliated merchants and the share of sales generated by CDON Marketplace is continuously increasing. As the company develops, it is natural that the staffing needs also change. Therefore, we are now carrying out an efficiency measure in order to ensure that the company can continue to develop in the best way possible. It is never an easy decision to make staff reductions, but it is necessary in order to strengthen CDON’s competitiveness and ensure that the company can continue to develop into the leading online marketplace in the Nordics in an efficient way.”
The information in this announcement is such that Qliro Group AB (publ) is required to disclose under the Swedish Securities Markets Act and/or the Financial Instruments Trading Act. This information was released for publication at 07:58 CET on 27 January 2016.
