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 City of Lahti has started personnel negotiations in order to cut down its personnel expenses by EUR 18 million by the end of next year. The City of Lahti intends to reduce the number of its personnel by 600 in three years.
Last year Lahti continued to invest especially in its service network. The size of the investment expenses and scarcity of own revenue has meant that Lahti continued to increase its debts.
The new debt taken by Lahti amounted to EUR 36.8 million. Amortisations included, the debt grew by EUR 27.6 million. The debt per capita rose to EUR 1,030.
The economic outlook for the current year is not promising for Lahti. According to Mayoress Vuokko Kautto, in addition to critical examination of the number of personnel the service network of the city economy is also being reorganised.
Eurofound (2006), Lahti city, Internal restructuring in Finland, factsheet number 63245, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/63245.
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