QPR SOFTWARE PLC STOCK EXCHANGE PRESENTATION 10 October 2023 AT 9 ET
On 19 October 2023, QPR Software Plc announced its plans to enter into change negotiations to adapt the company’s operations, structure and related staffing costs to reflect the change in business focus. The amendment negotiations have been completed on Thursday 9 November 2023.
As a result of the negotiations, the company will terminate a maximum of nine (9) positions. According to preliminary estimates, the company estimated that the adjustment measures will lead to temporary layoffs of the staff for a maximum of 90 days and in addition for a maximum of nine positions. The scope of the negotiations included the company’s advisory business unit staff in all its offices, a total of 14 people.
The adaptation measures are based on the company’s strategy to profile itself more strongly as a software and SaaS player (Software-as-a-Service) and as a consultant for its core business areas. The company is also repositioning itself as a leading player in Digital Twin of an Organization (DTO) technology.
In addition, the company issued a profit warning on 16 October 2023, in which it stated that some of the consulting projects in the domestic public sector outside the core business have been completed ahead of time or are taking place to a lesser extent than originally expected. The company stated that this will reduce net revenue at the end of the year, and the company’s net revenue for the full financial year will remain at the level of the previous year, while the growing software business compensates for the decrease.
For more information:
QPR Software Plc
Tel. +358 40 922 6029
About QPR Software
QPR Software Plc (Nasdaq Helsinki) provides process mining, performance management and enterprise architecture solutions for digital transformation, strategy execution and business process improvement in over 50 countries. QPR software enables clients to gain valuable insights for informed decisions that make a difference.