Given the market conditions and to ensure sustainability and competitiveness, AS
Tallink Grupp ("Group") has initiated reorganisation in Group companies with the
aim of increasing efficiency and aligning the cost base with the projected
recovery cycle of the tourism industry.
The reorganisation entails different measures in the different countries,
including lay-offs, workload reduction and possible changes to the flags under
which vessels operate, subject to tax measures and other available support
measures. Altogether, the initiated reorganisation processes will impact up to
2,500 employees in all the company's home markets combined.
The Management Board the Group continues to hold the opinion that the Group will
not earn profits in the 2020 financial year.
Joonas Joost
Advisor to the Management Board
Head of Investor Relations
AS Tallink Grupp
Sadama 5
10111 Tallinn, Estonia
E-mail joonas.joost@tallink.ee (mailto:joonas.joost@tallink.ee)
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