Swappie to restructure operations abroad

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.

Marttinen wrote that we won't be giving further statements on the topic for the time because we will focus on supporting our talented employees through this process.

Helsingin Sanomat wrote on Monday that the startup has had to shift its operational focus from growth to profitability in an environment that has been defined by accelerating inflation and declining online sales. The rise in interest rates 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 that Swappie was considering making 250 employees redundant, about a sixth of its staff of 1,600. The plan was made public only a few months after it announced it was looking to increase its global headcount to 2,200 by the end of the year.