As earlier informed Kährs Group is preparing and adapting its operations with a focus on cost control and capacity adjustments in steps to ensure continued low debt and a strong cash flow.
To adjust capacities and to introduce further efficiency programs to mitigate the effects of lower demand into 2024, Kährs continues with the plan to lower the capacities in all European factories in steps. The next step is affecting an additional 85 coworkers within Swedish units on top of the measures taken already in the first two quarters 2023.
Negotiations with union parties have been initiated effecting a notice of 80 blue collars and 5 white collars. Affected employees will receive information and the redundancies will start to take effect during the second half of 2023.
Despite the downturn, President & CEO Johan Magnusson sees a great need for the company's products and services in the future.
"Despite the challenging market outlook in 2023 and into 2024, there is a great need for renovation and more new buildings in the long term. We will continue to build Kährs to be well equipped to support our customers in the best way in the future as well as to make Kährs an even more attractive employer," says Johan Magnusson President & CEO at Kährs Group.
Kährs Group delivers sustainable and durable flooring solutions to more than 70 countries, being a market leader in hardwood flooring in Sweden and Finland.
