OP
PRESS RELEASE
30.3.2015
Information and consultation of employees process in OP Central Cooperative Consolidated completed
OP has completed the information and consultation of employees process initiated on 16 February 2015 and applying to the restructuring of the central cooperative consolidated personnel. As a result, a maximum of 278 jobs will be cut. The process covered some 4,300 employees.
The process did not extend to OP Financial Group's member cooperative banks.
These organisational changes constitute the next step in building the new OP owned by its customers. This is also a way of preparing for drastic changes in the financial sector operating environment, especially those caused by digitisation. The measures are being taken for production-related reasons.
The entire OP Financial Group employed a staff of some 12,350 at the end of 2014, with OP Central Cooperative Consolidated, which is the Group's central cooperative, accounting for about 5,470.
The process did not affect staff in Omasairaala, Baltic operations, OP Bank Group Pension Fund, OP Cooperative's HR function and Checkout Finland Ltd, Helsinki OP Bank's staff in branches for private customers excluding the supervisors and sales personnel, nor Helsingin OP-Kiinteistökeskus Oy staff excluding the supervisors.
For more information, please contact: OP Communications, media contacts, tel. +358 (0)50 523 9904