Swappie to restructure operations abroad

The negotiations are part of a plan to restructure its refurbishment operations and concentrate its repair operations outside Finland, in countries such as Estonia and Germany.

We will focus on supporting our talented employees through this process, and for this reason we won't give further statements on the topic for the time being, wrote Marttinen.

Helsingin Sanomat wrote on Monday that the startup had to shift its operational focus from growth to profitability in an environment that is defined by accelerating inflation and declining online sales. There has been a rise in interest rates that has made financing harder for growth-oriented companies.

Redundancies have also been announced by Aiven, Oura, Smartly and Yousician.

In June 2022, the newspaper reminded the newspaper that Swappie was considering making up to 250 employees redundant, about a sixth of its staff of 1,600. The plan was made public just a few months after it announced it was looking to increase its global headcount to 2,200 by the end of the year.