The online store Boozt, headquartered in Malmö, is reducing its permanent workforce by approximately 10 percent, the company writes in a press release.
The changes are to be implemented during the first quarter of 2025.
“The financial consequences of this initiative are expected to be net positive,” Boozt writes in the press release.
CEO and co-founder Hermann Haraldsson explains the move as a way to increase productivity and efficiency and as a result of “an increased use of AI-powered tools throughout the value chain”.
In addition to Malmö, Boozt has operations abroad, in Copenhagen, Aarhus, Vilnius and Poznan. In total, there are over 1,100 employees according to the company’s website.