Nordic wine and spirits supplier Anora is planning another round of job cuts in a bid to “improve profitability and efficiency”.
The Finnish group, which owns the Koskenkorva vodka brand, will hold talks with staff across its home markets as part of efforts to “adjust its organisational structure”, Anora CEO Kirsi Puntila said in a statement.
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The proposed restructuring is expected to result in the elimination of 70 to 80 jobs in 2025, Anora said. The company is looking to cut its personnel costs by approximately €7m ($8.2m).
The latest development follows cuts implemented in 2024, when 37 roles at the Chill Out and Falling Feather wine label owner were eliminated after negotiations that had started in the previous November.
Puntila said the upcoming discussions will encompass positions across the business,, with around 500 employees being within the scope of talks.
The negotiations are slated to start in October, with the revamped structure set to be in place by early 2026.
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By GlobalDataPuntila, who assumed the CEO role in March 2025, said Anora will “continue to seek further measures to improve its profitability, efficiency and cost-competitiveness”.
In 2024, Anora’s net sales declined by 4.7% to €692m ($819.2m).
EBITDA fell 9.2% to €61.3m but the company booked an operating profit of €34.5m, versus an operating loss of €31.3m in 2023.
The company’s net result for the year also returned to positive territory, landing at €11.1m compared to a €39.9m loss the previous year.
However, in the first half of this year, Anora’s net sales fell 5.3% year-on-year to €306.8m. Operating profit for the period was €8.8m, slightly down from €9.2m in the first half of 2024.
The company reported a break-even result for the half-year, compared to a loss of €0.4m in the corresponding period the year before.
Commenting on the half-year results released on 15 August, Puntila said: “The European beverage industry faced headwinds in the second quarter. Ongoing shifts in consumer trends and unusually poor weather in May and June negatively affected sales across several of our traditionally strong categories.”
She added: “We remain agile in responding to market conditions and are prepared to adjust our cost base as needed.”
