OP continues organisational changes
(Thomson Reuters ONE) -
OP
PRESS RELEASE
9 February 2015
OP continues organisational changes
OP is continuing to make changes to its operations and is therefore initiating
procedures for information and consultation of employees. This is the next step
in building the new OP owned by its customers.
The organisational change is aimed at preparing OP for a drastic change in the
financial sector's operating environment. Economic growth is still slow,
interest rates will remain record low, regulation will become tighter and
customer behaviour will change. The most significant factor causing quick
changes to the financial business in the coming years is digitisation, which
will not only affect customer behaviour and service use but will also bring
about significant changes in the competitive field, service processes and
companies' revenue models.
In order for OP Financial Group to be successful amid this major change, it must
have high capital adequacy and maintain its competitive edge and capacity for
continuous transformation.
The objective of the information and consultation of employees process is to
change the current organisation to correspond to the new business-driven
management model, remove any overlaps, and deepen the integration between
insurance and banking operations.
The measures are being taken for production-related reasons.
OP Cooperative's Supervisory Board decided on 24 April 2014 on a significant
reform of the central cooperative and of the organisational structures, and
appointed new Board members. In October 2014, the Group introduced a management
model based on three business segments, and appointed their senior management.
The next step involves the organisation of other staff in OP Cooperative
Consolidated's companies and organisations in accordance with the management and
operating model that was adopted on 1 October 2014.
The procedures for information and consultation of employees concern, with
certain exceptions, the staff of OP Cooperative and its subsidiaries. The number
of staff included is 4,352, and the outcome may be a maximum of 380 job losses.
The procedure does not involve staff in Omasairaala, the Baltic countries, 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.
Nor does the process extend to OP Financial Group's member cooperative banks.
The entire OP Financial Group employed a staff of some 12,360 at the end of
2014, with OP Cooperative Consolidated, which is the Group's central
cooperative, about 5,470.
For more information and any requests for interviews, please contact: OP
Communications, media contacts, tel. +358 (0)50 523 9904
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Pohjola Pankki Oyj via GlobeNewswire
[HUG#1892797]
Unternehmensinformation / Kurzprofil:
Datum: 09.02.2015 - 09:17 Uhr
Sprache: Deutsch
News-ID 369986
Anzahl Zeichen: 3734
contact information:
Town:
POHJOLA
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 180 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"OP continues organisational changes"
steht unter der journalistisch-redaktionellen Verantwortung von
Pohjola Pankki Oyj (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
