Worldline launches Power24, its transformation ambition announced on October 25, 2023. It aims at accelerating Worldline’s transformation in response to changes in macroeconomic environment and payment industry trends, in order to support the Group’s structural mid-term profitable growth profile.
„This planned transformation is expected to deliver c. €200 million run-rate cash costs savings from 2025. The overall implementation costs should be c. €250 million.” according to the press release.
It relies on four main pillars:
product transformation – Transformation in product and platform development to reinforce Worldline as a product-driven organisation. This would include widespread adoption of more agile working methods as well as the completion of standardisation and simplification of Worldline platforms to improve time-to-market and generate productivity gains.
technology optimisation – Modernization and technological development initiatives (e.g., automation of key processes) to support the Group’s innovations.
organisational simplicity – Simplification of the organisation to address unnecessary complexity from Worldline business so that the Group’s managers would increase their supervisory responsibilities and Worldline’s teams would be more empowered and have greater end-to-end accountability for the solutions they deliver.
streamlined sourcing – Sourcing cost reduction initiatives based on optimization of procurement contracts and better leverage our Global competence centres in India, Poland and Romania.
„Contemplated changes in all these areas would turn Worldline into a more client-centric company, improve employee working methods and collaboration, enhance the Group’s operational efficiency and position the Group for stronger future growth and margin improvement.” the company explains.
In the context of Power24 launch, and as this programme would lead to a reduction of Worldline global workforce of approximately 8% maximum, Worldline confirms that it has initiated social processes with the relevant employee representative bodies within the Worldline group.
The launch of the cost-reduction program was well received by the market, with shares rising nearly 2% after the announcement. A Worldline share is currently trading at a price 3.5 times lower than a year ago.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below: