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 Estonian shipping company Tallink concluded its personnel negotiations. In total, 128 reductions will be made, mainly in the overlapping functions in the three separate sales and administration organisations in metropolitan regions (Helsinki, Espoo, Turku).
Tallink started negotiations on the reduction of 180 jobs in Finland in September 2006. According to the company the main reason for staff reduction was that the operations on land of Silja Line shipping company will be absorbed into Tallink. The acquisition of Silja Line was completed earlier this year.
The aim of the company was to reduce overlapping functions. Tallink Finlands CEO Keijo Mehtonen explains that as a consequence of the acquisition the company has now three separate sales and administration organisations. The majority of the reductions will be accomplished in these departments. Mr Mehtonen points out that in the telephone selling or check-in operations there is no such a need for cutbacks in staff.
AS Tallink Grupps subsidiary companies Tallink Finland Oy and Silja Line Oy Ab employ 700 people in Finland. The number includes the employees who work in companys offices on land. The majority of Silja Lines personnel on land are employed in Espoo, but also in other metropolitan regions (Helsinki and Turku). Respectively, Tallinks employees in Finland are located in Helsinki and Tampere.
AS Tallink Grupp employs about 2,600 people worldwide and its turnover was 260 million euro in 2005. The number of passengers was 3.2 million in 2005. Silja Line employs 2,740 people and the turnover was EUR 380 million in 2005. The number of passengers was 3.4 million that same year. In the future, AS Tallink Grupp will continue to operate under both brands in the Baltic Sea.
Eurofound (2006), Tallink Finland Oy, Merger/Acquisition in Finland, factsheet number 63960, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/63960.
This working paper offers a comprehensive methodological overview of the European Restructuring Monitor (ERM) databases. Even though the methodology has not changed over time, new categories have been added, and the way it has been used by researchers and policymakers...
This Eurofound research paper explores key trends in restructuring in recent years, highlighting the companies that announced the largest job losses and job gains in the EU. It builds on an analysis of company announcements recorded in Eurofound’s European Restructuring...
In 2023, thousands of workers in big tech lost their jobs. Meta, Amazon, Google, Apple, Microsoft and Salesforce had been considered to offer good and secure jobs up to this point. Giants of the information and communication technology (ICT) sector,...
In 2024, the automotive sector in the EU came to the fore in public and policy discussions. The focus was on the slowdown in electric vehicle (EV) sales, rising global competition, belated investments in new technologies, and the potential closure...
The more employee monitoring resembles surveillance – with its systematic, continuous and detailed tracking of employees' activities, behaviours or communications – the greater the potential for infringement of both privacy and data protection rights. Although the EU General Data Protection...
Since 2013, Eurofound's ERM database on restructuring-related legislation has been documenting regulatory developments in the Member States of the European Union and Norway which are explicitly or implicitly linked to anticipating and managing change. The most recent update to the...
