OP’s central cooperative completes Information and Consultation of Employees process

OP’s central cooperative has completed the Information and Consultation of Employees process which started on 7 October 2019. The central cooperative’s structure will be simplified, and self-directed practices will be increased also in support functions. The changes will support OP’s businesses in meeting customer needs and streamlining their processes.

Approximately 1,900 employees work in the functions covered by the negotiations. As a result of the negotiations, approximately 460 jobs will cease to exist, while approximately 190 new jobs will be created. The changes aim to achieve cost savings of approximately 18 million euros by the end of 2020.

The internal services provided by the central cooperative’s Group Services and Group Support function will be integrated into other functions of the central cooperative. The greatest changes concern the Service Centre which will be integrated into the Retail Banking business. The centralised service range and network will be reformed and the efficiency of processes will be improved. The changes will be implemented in phases during 2020. 

In autumn 2018, OP Financial Group began moving towards self-managed working practices. The transformation began in the Retail Banking business and, in autumn 2019, Corporate Banking and Insurance also updated their organisations to correspond to the new working method. 

“In this last step of reorganisation, we reviewed the central cooperative’s structure and how we can increase self-managed practices also in support functions. Feedback from employees on the new working method has been very positive. A major transformation in operations and culture will take time, and we will continue to develop the new working methods together with our employees,” explains Hannakaisa Länsisalmi, Executive Vice President for Human Resources at OP Financial Group.  

Further information and requests for interviews: 

OP Corporate Communications, tel. +358 50 523 9904, viestinta@op.fi