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.
Ruukki Engineering, the engineering division of Rautaruukki - a Finnish manufacturer of metal-based components and systems - has announced the loss of 190 jobs in Hungary (Tisza Zrt) and another 17 jobs in Finland (Tampere, Hämeenlinna and Helsinki). The aim of the restructuring is to boost productivity and eliminate any overlaps at the group, division and unit levels. Negotiations between the management and employees started in May 2008.
In Hungary the 190 announced job losses will be implemented in two phases between 2008 and 2009. During the first phase, which takes place in July 2008, the number of administrative staff will be reduced by 108. By then the new organisational structure and processes will be put in place. The next phases will take place in October 2008 and January 2009.
A total of 60 senior employees were initially involved in the negotiations in Ruukki Engineering's Finnish units in Helsinki, Tampere and Hämeenlinna. When the negotiations began, it was estimated that 25 jobs would be affected. As a result of the negotiations, only 17 white collar jobs in the administration division will be cut. Some of the affected workers will be offered new positions at Ruukki. The job losses will be also implemented through natural decline (retirement). The restructuring measures will start immediately and be completed in the autumn 2008.
Ruukki Engineering launched a programme to improve productivity across the division in February 2008. The measures aim at improving the division's operating profit by EUR 20 million in 2008. Ruukki Engineering has operations in seven countries and employs around 3,000. 275 white collar workers are employed in the Hungarian unit affected by the restructuring.
Eurofound (2008), Ruukki Engineering, Internal restructuring in European Union, factsheet number 66930, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/66930.
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