Eniro’s CEO: This is not a good day – Swedish newspaper Svenska Dagbladet

When sökbolaget Eniro employees got to work on Wednesday morning, they were met by the news that 350 services are cut away. Undercutting stated to be 260 fewer people when things that vacancies are excluded. As Eniro had about 2 300 employees facing layoff means that more than one in ten will leave the company.

– This is not a good day for Eniro. It is extremely sad to have to lay off employees, but it is unfortunately necessary now that we need to reshape the company, says Eniro’s CEO Stefan Kercza.

As late as April 10, it was announced that Eniro through a rights issue share capital increases by more than 152 million. Stefan Kercza see no connection with the new cost-saving measure. Nor, he sees no connection with the fact that Eniro makes its quarterly report on Friday.

– No. The organizational change is something that I have worked with over the four or five months that I have been in group management.

Employees of the Group all the countries affected by the cuts, which will be completed in the fall, even if they are started already in May The geographic change as CEO Stefan Kercza choose to highlight is that all customer support will be concentrated in Malmö where customers from all Eniro Countries to be served in their own language.

According to Eniro save into service by concentrating other functions, such as sales support. Meanwhile, Eniro sellers become more versatile and master various brands. According to Stefan Kercza, all trademarks remain, but without separate sales forces.

– It will not be six or seven different vendors for each customer, says Stefan Kercza who want “more sellers who can offer a broader product portfolio. “

This measure will provide cost reductions” by 25 million in 2015 “and then an” annual effect of SEK 120 million, “which got Eniro’s share price to bounce up by about 5 percent to just over SEK 2 during the morning session.

Stefan Kercza would not at all have any idea if it is at all possible for Eniro to reach back to last year’s levels over $ 60. As most traded shares for almost 66 crowns in March of last year, before the revelation came that Eniro had beautiful stained information to shareholders. Short-term numerical exercise that misled investors – some Anglo-Saxon investors lost hundreds of millions of crowns – led to Stefan Kerczas predecessor Johan Lindgren was kicked from the president of the company.

Since last summer has Eniro’s stock ticker been a issue for both the Financial Supervision NASDAQ OMX’s and the police. The investigation includes Eniro all companies in Sweden and companies in Norway, Denmark, Finland and Poland.

– There has been ongoing investigations but there is one thing for Economic Crimes Bureau and the lawyers who work on the cases, comments Stefan Kercza today .

Eniro’s long-term shareholders are therefore accustomed to sudden changes. Wednesday’s announcement brings the known sökbolaget saves through a new, flatter organization with fewer managers.