Ebusco takes further actions in restructuring its organization
Deurne, 31 December 2024 - Ebusco (Euronext: EBUS), today further informed its employees about the earlier announced restructuring of its organization. The proposed changes aim to optimize the organization in alignment with the previously announced Turnaround Plan and change to the Original Equipment Designer (OED) model. This restructuring is expected to be executed mostly in the first quarter of 2025.
Ebusco has submitted a request at the Netherlands Employees Insurance Agency (UWV) and informed the trade unions about its intentions. 102 Full Time Equivalents (FTEs) will be impacted, representing approximately 16.5% of the company’s total number of FTEs as per 30 September 2024. The restructuring includes a social plan for employees. Ebusco aims to find the balance in speed of decision-making and continued care for its employees as much as possible in this difficult time.
The affected positions are mainly related to the production, warehouse, and facility departments. This restructuring is in line with the cost reduction targets under Ebusco’s Turnaround Plan.
Christian Schreyer, CEO of Ebusco, stated: “Although this decision is difficult for the affected employees, it is a necessary step to improve Ebusco’s financial performance. Scaling down the inhouse production in the Netherlands is an important part of our strategy and these measures are aimed at right-sizing the company and reinforcing Ebusco’s core strengths in sales, design and engineering. Although it was originally intended to spread this adjustment over a longer period, we have now chosen to expedite the process and provide clarity within a shorter timeframe. The measures are significant, and we are fully committed to supporting our employees in this transition.”
Information in this press release may constitute inside information within the meaning of Article 7(1) of the European Market Abuse Regulation (MAR). This press release was distributed at 07:30 on 31 December 2024.