Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
The telecommunications company, Telia, has initiated cooperation negotiations in Finland involving 800 employees, planning the lay-off of more than 100 people. The negotiations concern the infrastructure business, the Common Products and Services unit, as well as part of the support operations unit in Finland. As part of the restructuring, some new positions will be created while others will be removed. Telia has also initiated negotiations in Sweden and Norway.
Rising energy prices and interest rates have negatively affected Telia's profits. According to the company's head of communications, the reason for the redundancies is modernisation of the organisation and support for digitalisation.
The telecommunications company operates in the Nordic and Baltic countries, employing 20,000 people, out of which 4,000 in Finland.
Update 8/3/2023
Telia has finalised cooperation negotiations in the infrastructure unit, the Common Products and Services unit and support functions Finland. As a result, 101 positions will be removed and 45 new positions created. Telia Finland also launched negotiations in early February in the corporate business unit, which are still ongoing.
Update 29/03/2023
Telia has finalised the cooperation negotiations in the corporate business unit, resulting in 39 positions ending while 6 new ones are created.
Eurofound (2023), Telia, Internal restructuring in Finland, factsheet number 108221, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/108221.
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