The current macroeconomic environment accelerates demand for enterprise modernization services and creates opportunities for growth. However, due to the high productivity demands as well as recent unprecedented cost and salary inflation, Tietoevry Transform’s profitability has faced sequential decline, impacting its competitiveness in the market.
To ensure its future business success, Tietoevry Transform has initiated plans for further efficiency and cost structure re-set covering optimized delivery capacity, increased automation for higher efficiency as well as streamlined organization structure. Consequently, Tietoevry Transform has also initiated a restructuring with a potential impact on maximum 250 roles across Sweden (~80 roles), Finland (~ 40 roles), Norway (~20 roles) and India (~110 roles). The aim is to conclude the restructuring related processes by the end of October 2022, while the timelines may slightly differ according to country-specific practices and legislation.
“During this year, we have successfully built a foundation for our new business, paving our way to become the market leading transformation partner in the Nordics. However, to drive competitiveness, we need to adapt to the intensified market realities, including unprecedented cost and salary inflation, and align our cost structure accordingly. These actions with an impact on personnel are always extremely difficult – we will do our best to support the affected employees”, says Satu Kiiskinen, Managing Director at Tietoevry Transform.
Tietoevry Transform continues to build on and invest in its core capabilities and new technologies, such as automation, data & AI, to ensure the best possible service for customers now and in the future.
Tietoevry Communications, firstname.lastname@example.org, +358 40 570 4072
Tietoevry creates purposeful technology that reinvents the world for good. We are a leading technology company with a strong Nordic heritage and global capabilities. Based on our core values of openness, trust and diversity, we work with our customers to develop digital futures where businesses, societies, and humanity thrive.
Our 24 000 experts globally specialize in cloud, data, and software, serving thousands of enterprise and public-sector customers in more than 90 countries. Tietoevry’s annual turnover is approximately EUR 3 billion and the company’s shares are listed on the NASDAQ exchange in Helsinki and Stockholm, as well as on Oslo Børs. www.tietoevry.com