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Restructuring at Recipharm

recipharm

Recipharm announces cost and efficiency program in Sweden.
In the Swedish part of the Business Segment Solids and Others, Recipharm sees a need to adapt to lower actual and forecasted volumes of certain products and capture opportunities for improved efficiency. Therefore, accelerated cost and efficiency activities will start during Q4 2015 and run through 2016. These activities will affect the number of employees.
Around 100 positions in greater Stockholm area are subject to notice. The ambition is to achieve annual savings in excess of SEK 60 million from headcount reductions as well as savings in external costs. There will also be efficiencies to gain from streamlining the product range and termination of less profitable contracts. Implementation costs of SEK 15 million are expected and will be charged to Q4 2015 results. Savings are expected to start impact results already in Q1 2016 with full effect beginning of 2017.The headcount reductions are subject to negotiations with unions.

Source: Recipharm