Stuart announces a Collective Dismissal Procedure in Spain and Portugal 

• Following a thorough evaluation of its strategic direction, Stuart Group believes it must concentrate its resources and efforts on markets that offer higher growth and profitability opportunities. By reallocating resources strategically, Stuart aims to optimize its operational efficiency and capitalize on current markets.
• The company will initiate a Collective Dismissal Procedure, based on economic, production-related and organizational causes, affecting all of the work centers and the riders in Spain and Portugal. Whilst this proposal would be a reduction in staff, the organization is committed to continuing to keep a technological hub in Spain.
• Stuart will continue to serve industry leading clients in markets across Europe, including France, UK, Poland and Italy, where they can continue to generate profitable growth and continue to be #1 or #2 players in direct channels. 

Barcelona, April 15th 2024. In response to the dynamic challenges posed by global recovery from the COVID-19 pandemic and various geopolitical changes, Stuart Group has announced today strategic measures to ensure its sustainability and competitiveness in the ever-changing delivery sector.

The company, renowned for its innovative approach to delivery services, has taken a proactive stance to address the impact of inflation, rising operational costs and the recent implementation of the Riders Law in Spain which have directly influenced Stuart's ability to generate profitable growth in both the Spanish and Portuguese markets. These markets only accounted for 1.6 % of the group's total revenue in 2023. 

Acknowledging the imperative of sustaining market profitability and competitiveness, Stuart Group has opted to realign its focus towards regions with robust growth potential and higher returns on investment. This strategic pivot empowers the organization to prioritize future innovation and differentiation, aligning with the evolving market dynamics. Concurrently, Stuart remains steadfast in its commitment to maintaining its dominant position as the leading or second-leading player in the markets it currently serves.

As a result, the company has announced to the representatives of the workers today its intention to initiate a Collective Dismissal Procedure in Spain and Portugal. This ongoing strategic realignment will involve organizational changes affecting both riders and its headquarter staff. The Collective Dismissal Procedure, in compliance with legal requirements, will involve close collaboration with the works council to ensure fair and transparent negotiations.

Despite this necessary adjustment, Stuart remains committed to its presence in Spain, maintaining a technological hub in Barcelona. This hub will continue to provide essential technical support to operations in other markets where Stuart has demonstrated strong performance.

Stuart Group's CEO, Corneila Raportaru commented, "these decisions are not taken lightly, but they are essential to safeguard our long-term sustainability and maintain our position as a leader in the delivery sector. We are committed to navigating these challenges with integrity and transparency, ensuring the best possible outcomes for both our company and our valued employees."

 

About Stuart

Stuart is Europe’s leading last-mile logistics platform, connecting businesses to a fleet of geolocalized independent couriers. Our platform allows businesses of any kind of industry to deliver their customers with speed, flexibility, and efficiency.

For any additional information

Lidia Alcaide - lalcaide@llyc.global 

Tina Díaz - adiaz@llyc.global 

Carolina Rodríguez - carolina.rodriguez@llyc.global