Spinnova’s change negotiations concluded
SPINNOVA PLC, PRESS RELEASE, 9 JUNE 2025 AT 3 P.M. UCT+2
Spinnova’s change negotiations concluded
Spinnova announced on 11 April 2025 the start of change negotiations to adjust its organisational structure to the Company’s current development stage and the changed operating environment.
The negotiations ended on 4 June 2025, and the outcome was communicated to the personnel today. As a result of the negotiations, 10 positions will permanently be reduced.
The scope of the change negotiations covered all 56 of Spinnova’s permanent employees, except the executive management. At the beginning of the negotiations, the Company estimated that the number of permanent reductions would be a maximum of 35 positions.
The Company expects to make annual savings in personnel costs totalling around EUR 1.6 million.
Spinnova has not provided financial guidance for 2025.
Spinnova Plc
For further information, please contact:
Janne Poranen
CEO, Chair of the Board
Tel. +358 20 703 2430
ir@spinnova.fi
Distribution:
Nasdaq Helsinki
Key media
Spinnova – The textile material innovation
Spinnova technology transforms the way textiles are manufactured globally. Based in Finland, Spinnova has developed breakthrough patented technology for making textile fibre out of wood pulp or waste, such as leather, textile or agricultural cropping waste, without harmful chemicals or dissolving.
Spinnova technology creates no side streams in the fibre production process, and the SPINNOVA® fibre has minimal CO2 emissions and water use, as well as being biodegradable and recyclable. Spinnova technology uses a mechanical process which gives the fibre the look and feel of a natural cellulosic fibre such as cotton.
Spinnova’s shares (SPINN) are listed on the Nasdaq First North Growth Market Finland.
SPINNOVA® home: www.spinnova.com
Corporate & IR site: www.spinnovagroup.com