Fiskars - Company Announcement

Fiskars plans to increase efficiencies with the new organizational structure

Fiskars Corporation
Stock Exchange Release
November 10, 2016 at 10:00 EET

Fiskars plans to increase efficiencies with the new organizational structure

With the planned new organizational structure announced today, Fiskars is
proposing to reduce positions in areas where there are currently overlaps or
potential to seek efficiencies. 

"Based on our strategy to build global businesses and brands, we introduced
today a new planned organizational structure that is better aligned with the
strategy and would allow us to move faster. These proposed reductions are aimed
to reduce overlaps and strengthen our competitiveness”, said Kari Kauniskangas,
President and CEO, Fiskars Corporation. “Unfortunately the planned changes may
have an impact on employees. We will support our employees during the possible
transition." 

Including the addition of a number of new positions, the net reduction of
Fiskars’ personnel is estimated to be 130 positions globally. The proposed
reductions are expected to take place in 2017. Employees in manufacturing and
distribution centre operations are not in scope of the proposed personnel
reductions. 

Fiskars is on a transformation journey to become an integrated consumer goods
company with a family of iconic lifestyle brands. In connection with the
planned organizational structure Fiskars launches an Alignment program to
proceed in the transformation. The program focuses on the planned structural
changes, proposed headcount reductions announced today and the full integration
of the English & Crystal Living business, acquired last year. 

The total costs of the planned program are approximately EUR 15 million in
2016–2017, which are planned to be recorded as adjustments to the operating
profit. The targeted annual cost savings are approximately EUR 14 million,
subject to the full implementation of the program. The targeted cost savings
would be achieved gradually, starting next year and with the full effect in
2018. 

As the planning progresses, Fiskars will engage and work closely with its
employees and employee representatives to ensure that they are fully informed
and consulted about our proposals. Processes and timelines will vary from one
country to another. 


FISKARS CORPORATION


Kari Kauniskangas
President and CEO



Media and analyst contacts:
Head of Corporate Communications and Corporate Responsibility Maija Taimi, tel.
+358 204 39 5031, communications@fiskars.com 



Fiskars – Making the everyday extraordinary
Fiskars serves consumers and customers around the world with a brand portfolio
of globally recognized brands including Fiskars, Gerber, Iittala, Royal
Copenhagen, Waterford, and Wedgwood. Building on our mission to create a family
of iconic lifestyle brands, Fiskars’ vision is to create a positive, lasting
impact on our quality of life. Please visit www.fiskarsgroup.com for more
information.

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20161110 Fiskars plans to increase efficiencies with the new organizational structure_eng.pdf