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 media businesses Talentum Media Oy and Talentum Oyj have concluded the personnel negotiations started in early November. As a result of reorganising and rationalising the group services, 25 employees will be made redundant and Talentum's subscription service will be outsourced, which affects 11 employees.
Talentum Media Oy and Talentum Oyj started personnel negotiations concerning reduction of personnel which are affecting all of the 330 employees at the companies.
Negotiations started on November 13, 2006, targeting equivalent cuts to the costs of about 35-45 employees. The personnel costs were to be cut by redundancies, terminating short-term employment contracts and through early retirement. The cuts should be fully effective in early 2007.
The purpose of these actions was to ensure competitiveness and adequate profitability in the current market situation.
Talentum Group's turnover in 2005 was 103 million euro and the number of employees in Finland, Sweden and in the Baltic states is about 1,000.
Eurofound (2006), Talentum, Internal restructuring in Finland, factsheet number 64395, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/64395.