Marimekko, the Finnish design company known for its brightly coloured original prints announced on Thursday that it will start lay-off talks in Finland affecting all of its employees except those who work in its retail stores.
Known for its bold prints, Marimekko catapulted onto international catwalks in the 1960s when Jackie Kennedy bought several Marimekko dresses and posed in one them for the cover of Sports Illustrated magazine.
Founded in 1951, the company that has weathered many ups or downs over the years announced on Thursday in a press release that personnel will be cut from its Helsinki headquarters in Herttoniemi. Marimekko said it plans to streamline its operations in order to save 2.4 million euros a year in response to long-term uncertainty over the global economy and the difficult retail trade situation in Finland.
Marimekko President Tiina Alahuhta-Kasko said in the press release that, ”Marimekko will continue its international growth strategy, which is especially important in particular because our domestic market has deteriorated. Currently our cost structure is burdening our competitiveness and profitability.”
In addition to possible job reductions, Marimekko announced that there will be changes to job descriptions, working methods and possible outsourcing of certain functions.
Founded in 1951, Marimekko is sold in 40 countries and has 140 shops around the world. Key markets include Northern Europe, North America and the Asia-Pacific region.
As of September 2015, Marimekko employed 444 people, 330 of whom worked in Finland.