Finland's leading cybersecurity firm F-Secure has initiated codetermination talks that could lead to layoffs of up to 70 employees globally, representing about 13.6% of its total workforce of 516. The restructuring, announced in October 2023, primarily targets up to 50 positions in Finland, with negotiations starting on October 30 and expected to last six weeks. This move follows a profit warning and disappointing interim results, with projected 2023 revenue of 128-132 million euros falling short of expectations. The company cites a challenging operating environment due to the war in Ukraine, high inflation, reduced consumer confidence, and lower demand as key reasons, aiming to achieve approximately 9 million euros in cost savings through this restructuring.
