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 with the plan to lay-off 500 employees in Finland, and 635 when also accounting for external consultants. The negotiations cover almost all staff in Finland, 3,100 people in total. The restructuring may also result in 30-40 new jobs.
The company aims to cut annual costs by around €230 million. In recent years, Telia has been struggling with advertising revenues and declining sales.
Telia operates in the Nordic and Baltic countries and has approximately 19,000 employees in total, out of which 4,000 in Finland.
The current restructring affects multiple countries Telia operates in, including Sweden, Norway and Estonia (see factsheet for Estonia Telia-2024-EE). In 2023, Telia cut jobs in Finland Telia-2023-FI and Sweden Telia-2023-SE.
The current worldwide restructuring programme of Telia has been recorded in the ERM events database Telia-2024-WO.
Update 2024-11-08
As a result of a collective consultation process, Telia will eliminate around 500 positions in Finland. Around 45 new positions are expected to be created. Around 160 positions will be transferred from Telia Company to Telia Finland. The majority of the dismissals affect employees in Helsinki where about 290 jobs will be reduced, In Jyväskylä about 40 jobs will be cut, from Lahti about 30, from Tampere about 30, from Turku about 20, from Vaasa about 15. Other units face singular dismissals.
Eurofound (2024), Telia, Internal restructuring in Finland, factsheet number 201564, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/201564.
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