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.
Telecommunications company TeliaSonera Finland started personnel negotiations at Broadband Services to cut some 390 jobs, in order to ensure its competitiveness and to be able to continue shifting the product mix by investing in IPbased services. The streamlining affects nearly all sectors of the broadband business in Finland.
The personnel negotiations to be launched affect nearly all sectors of the broadband business, i.e. the production units, customer processes, sales and marketing. Geographically, the streamlining needs are distributed fairly evenly across different parts of the country, the main focus being on the operations located in the Helsinki metropolitan area.
According to Juha-Pekka Weckström, Senior Vice President of TeliaSonera Broadband Services Finland, the current cost structure is too high compared to competitors. "We have to cut the costs significantly to ensure that we can invest for the future. The aim is also to cover the costs we incur from the unprofitable business we conduct in sparsely-populated areas on a much larger scale than our competitors".
TeliaSonera Broadband Services Finland comprises, for example, consumer broadband services, fixed voice for consumer and business customers and fixed-network services for business customers. All in all, Broadband Services employs some 3,200 people in Finland.
The announcement follows a recent cut of 1000 jobs in the TeliaSonera group.
Eurofound (2009), TeliaSonera Finland, Internal restructuring in Finland, factsheet number 68001, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/68001.
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...
