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 electronics manufacturing services company Elcoteq has closed its personnel negotiations which it initiated in March. Final decision is that a total of 65 employees will lose their jobs and additionally 15 will work short-time. In the beginning of the negotiations a maximum of 120 jobs were concerned. According to the leadership, the reason for personnel reduction in Finland is to ensure the competitiveness of the company.
Restructuring was to be considered in the companys product development unit, New Product Introduction (NPI) unit and in the Lohja steel unit, but it is not announced in which units the restructuring will be executed.
Above-mentioned units are located in Espoo, Lohja, Salo and Turku in Finland.
The Elcoteq units in Finland employ around 870 people. The company has currently roughly 20,000 employees worldwide.
Last year Elcoteq opened new plants in India and St Petersburg.
Eurofound (2006), Elcoteq, Internal restructuring in Finland, factsheet number 63107, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/63107.
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