10/19/2020

Orion's statutory co-operation negotiations completed regarding the Research & Development function

Orion's statutory co-operation negotiations completed regarding the Research & Development function

ORION CORPORATION                 PRESS RELEASE                19 OCTOBER 2020   at  2.15 p.m. EEST

Orion's statutory co-operation negotiations completed regarding the Research & Development function


Orion announced on 10 September 2020 that it is planning to change and refocus the strategy of its R&D function. The co-operation negotiations in Finland
related to these changes have been completed. As a result of the negotiations, 13 persons will be given a notice.

The changes and renewal of the Orion Research and Development organisation are intended to strengthen the company's R&D portfolio and speed up the progress of research projects. The co-operation negotiations concerning its R&D function (over 500 employees) in Finland - in Espoo, Turku and Kuopio have been completed. The negotiations concerned all members of staff in all personnel groups in R&D in Finland.

In addition to the lay-offs  some employees will be transferred from the Researh and Development function to other roles at Orion Group as a part of the the reorganisation of operations.

As a result of the negotiations, 13 persons of the company's personnel will be given a notice. The lay-offs are planned to be implemented during 2020.

On 10 September 2020 Orion issued a negotiation proposal, as laid down in the Finnish Act on Co-operation within Undertakings, on the reorganisation of operations and possible personnel reductions. According to the original estimate, the negotiations could have led to cutting up to 25 jobs.                                               


Contact person:

Terhi Ormio
Vice President, Communications, Orion Corporation
Tel. +358 50 966 4646          
terhi.ormio@orion.fi

                                                  

Publisher:
Orion Corporation
Communications
Orionintie 1A, FI-02200 Espoo, Finland
Homepage: www.orion.fi/en

Orion is a globally operating Finnish pharmaceutical company - a builder of well-being. Orion develops, manufactures and markets human and veterinary pharmaceuticals and active pharmaceutical ingredients. The company is continuously developing new drugs and treatment methods. The core therapy areas of Orion's pharmaceutical R&D are neurological disorders, oncology, Finnish heritage rare diseases and respiratory diseases for which Orion develops inhaled Easyhaler® pulmonary drugs. Orion's net sales in 2019 amounted to EUR 1,051 million and the company had about 3,300 employees at the end of the year. Orion's A and B shares are listed on Nasdaq Helsinki.