Netum Group to Restructure, Launch Change Negotiations

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.