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.
Internet consultancy company Satama Interactive's
personnel negotiations in its Finnish operations have been concluded. Satama will reduce its workforce by 56 employees in Finland and 3 in Holland by the end of the year. As a result of outsourcing and other arrangements agreed with personnel, the amount of dismissals remains relatively small. In Finland 10 employees and in Holland 3 employees will be dismissed.
On May 30, Satama announced about its plans to start an extensive restructuring program to speed up reaching its strategic and financial goals. The personnel negotiations ended on June 29 as agreed with personnel representatives. Satamas workforce will be reduced by the end of the year by a total of 59 employees, out of which 56 work in Finland. Dismissals of all in all 13 employees will take place immediately. Satama has agreed personnel solutions such as relocation support for those dismissed.
Personnel reductions, outsourcing and other arrangements will reduce Satamas cost level by approximately 3 million euros per annum. The lower cost level will be reached to the full by the end of 2006.
Internet consultancy company Satama Interactive started an extensive restructuring program to speed up reaching its strategic and financial goals in the beginning of June 2006. As a result of the planned measures Satama is starting restructuring personnel negotiations in its Finnish operations. Satama's CEO Jan Sasse and his deputy COO Risto Koivula have both resigned with immediate effect.
"During the beginning of 2006 the progress in the implementation of Satama's strategy and improving its financial performance has not developed well. The situation demands decisive actions so that Satama can ensure its competitiveness and can bring forward its strong competitive edges", says Jussi Länsiö, chairman of the Board of Satama.
Eurofound (2006), Satama Interactive, Internal restructuring in Finland, factsheet number 63586, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/63586.
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