During 2023, Q-linea announced and implemented a revised commercialization strategy for the company's subsidiaries and key distribution partners. The company can now conclude that the new strategy has started to generate positive results in
The company believes that ASTar's competitiveness makes it possible to further reduce the size of the company's product development organization, a work that began last year to the benefit of the commercial organization.
The revised strategy entails the need for organizational changes, which motivates the initiation of a cost savings program that will run during the first half of 2024. The cost savings program includes an increased focus on commercialization of the company's products, as well as the postponement of certain development and research activities.
The program will mainly affect personnel and consultants in Q-linea's development departments, but also includes a review of all costs in the company. The full effect on earnings is expected from and including the third quarter of 2024. In total, the savings program includes around 40 employees and consultants. As a comparison, it can be mentioned that Q-linea at the end of 2023 had 123 employees and three consultants. Notification will be submitted to Arbetsförmedlingen (the Swedish Public Employment Service).
"We see a positive development in the area of rapid AST and have recently won our first tender, which confirms the product’s competitiveness. We also see that
© Modular Finance, source