RTV-Yhtymä plans layoffs and store closures in Finland

The Finnish company RTV-Yhtymä, based in Riihimäki, has announced plans to lay off up to 59 employees and significantly alter the working conditions for 60 other staff members. Additionally, the company will temporarily suspend the entire workforce for a maximum of 90 days. Following change negotiations that concluded at the end of July, RTV will close five retail locations in Finland, specifically in Kangasala, Laihia, Lappeenranta, Orimattila, and Valkeakoski.

The company’s management cited production and economic reasons as well as an evaluation of the strategic and operational roles of their services in the current market situation as the basis for these negotiations. Mikael Forss, the CEO of RTV, stated that the poor condition of the construction sector has impacted the company’s business, which is reflected in the outcomes of the negotiations.

“The decisions stemming from the change negotiations are based on several factors including a challenging market situation, rising operational costs, and the need to update our strategy and operations to better align with future challenges and opportunities,” Forss explained in a statement.

Notably, the change negotiations do not affect RTV’s ITC services. Furthermore, the Riihimäki store and headquarters will continue normal operations. RTV-Yhtymä currently employs around 680 people across Finland, operating approximately 40 physical stores alongside an online shop. This news was first reported by Hämeen Sanomat.