The CEO of the multinational PANDORA leaves his responsibilities in the company.
Anders Colding Friiis expects to have its annual budget approved and finished with its labor restructuring, which will affect about four hundred jobs.
Reasons for exchange rates with the Danish krone, versus dollar / euro will affect profits. This, together with the revised expectations of EBITDA, means that hundreds of millions of crowns in revenue are expected to fall.
As for the labor reorganization, PANDORA will dismiss almost four hundred employees, of the twenty-seven thousand that it has all over the world.
However, the outgoing president relies on the strength of the company, and says he is on the right track. It foresees to reduce annual costs by 150 million crowns next year.