Spinnova Initiates Change Negotiations
Spinnova, a textile material innovation company, has announced the initiation of change negotiations to align its organizational structure with the current development stage and operational environment.
Details of the Plan
- The change negotiations will cover all employees except the executive management.
- Anticipated changes include potential layoffs, team restructuring, and role adjustments.
- Up to 35 positions may be affected, with estimated annual savings of EUR 2.6 million.
Negotiation Timeline
- Negotiations are set to commence on April 23, 2025, with a projected conclusion by June 4, 2025.
- Implementation of outcomes is expected no later than December 31, 2025.
Spinnova Strategic Assessment
On February 28, 2025, Spinnova began assessing its strategic direction to adapt to market conditions. Updates will be provided to stakeholders, including financial guidance, as appropriate.
For more information, contact Janne Poranen, CEO and Chair of the Board.
About Spinnova
Spinnova, based in Finland, revolutionizes textiles manufacturing by producing fibers from wood pulp or waste without harmful chemicals or waste streams. The SPINNOVA fiber boasts eco-friendly properties such as low CO2 emissions, water use, and is biodegradable.
Spinnova Stock Information
- Ticker Symbol: SPINN
- Exchange: Nasdaq First North Growth Market Finland
For further details, visit Spinnova’s official website.
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