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.
Iron and steel components manufacturer Metso Foundries has concluded the personnel negotiations initiated on May 12, 2008. As a result of the negotiations, arisen from case of production on the foundry’s automatic moulding line, a personnel reduction of 84 persons in total will be carried out.
At the start of the negotiations, the need for reduction was estimated to be 120 – 140 persons. Due to internal arrrangements as well as the positive general market situation, the need for personnel reduction was, however, decreased to 84 employees.
The measures will be initiated immediately and their implementation will take approx. 6 – 18 months, depending on the operation and individual cases. The employment terminations will consist of pension arrangements, discontinuation of temporary employments as well as redundancies.
Iron and steel components manufacturer Metso Foundries currently employs 330 persons in its Jyväskylä site. The amount of personnel will be 246 by the end of 2009 after the job reductions now negotiated.
The company, which is part of Metso Paper, was planning to shut down its automatically moulded castings unit in Jyväskylä due to cost and productivity reasons. The plant’s main products are various iron and steel components and castings for tractor and off-road industries, diesel engine, truck, robot and compressor manufacturers. It produces, among others, gearboxes, cylinder blocks and heads, flywheels, brake drums, robot components, housings for gears, clutches, shafts, bearings and joints, hubs and levers.
Metso's Foundries consist of three foundry units in Jyväskylä and Tampere in Finland and Karlstad in Sweden and employs a total of 740 employees.
Eurofound (2008), Metso Foundries, Internal restructuring in Finland, factsheet number 66666, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/66666.
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