These discussions exclude the executive management team but encompass all other personnel at the company.
Initial projections from Spinnova suggest that the outcomes of these talks could result in a reshuffling of teams and roles, alongside potential temporary and permanent staff reductions, with an estimated maximum of 35 employees affected.
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Currently, Spinnova maintains a workforce of 56 permanent members.
The company projects that the proposed restructuring could yield annual savings of around €2.6m ($2.95m). The finer details regarding the scale and focus of the possible job cuts will be determined throughout the negotiation process.
The negotiation process is scheduled to commence on 23 April 2025, with expectations to reach a conclusion by no earlier than 4 June.
Following the decision-making process, any resulting actions are anticipated to be enacted at the earliest opportunity, but no later than 31 December 2025.
On 28 February, Spinnova launched a strategic evaluation which is expected to be finalised within the upcoming months. The company intends to communicate updates to the market, including any revisions to financial guidance, at an appropriate time.
This initiation of change negotiations follows a recent decision by Spinnova’s board of directors to appoint Janne Poranen, the company founder and existing board chair, as chief executive officer (CEO).
Poranen is given the role to oversee all operations within the Spinnova Group and lead the management team while maintaining his position as board chair.
Earlier in the month, Spinnova announced its intention to begin negotiations with all employees at Woodspin, a joint venture it equally owned with Suzano.
