04:29 AM EDT, 10/12/2026 (MT Newswires) -- Netum Group (NETUM.HE) plans to reorganize the company after revenue declined, mainly due to the expiration of major contracts and weaker demand for subcontracting. The IT service group said Monday its board approved a new operating model and target organization to be implemented by Jan. 1, 2027. The company will hold change negotiations and employee discussions covering 40 people on possible temporary layoffs or terminations. The changes could eliminate about 10 to 20 positions or materially change employment terms. The group said its leadership organization will also become flatter under the new structure. Netum expects annual cost savings of 1.4 to 1.8 million euros. It kept its 2026 guidance unchanged, expecting revenue to fall significantly from 37.8 million euros in 2025.

Disclaimer:This article represents the opinion of the author only. It does not represent the opinion of Webull, nor should it be viewed as an indication that Webull either agrees with or confirms the truthfulness or accuracy of the information. It should not be considered as investment advice from Webull or anyone else, nor should it be used as the basis of any investment decision.