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 cargo handling company Cargotec restructures its operations in Tampere, Finland due to the market situation. Some 90 workers are likely to be permanently laid off.
As a result of continuing low demand of cargo handling equipment Cargotec starts personnel negotiations in its unit in Tampere, Finland, about extending the on-going temporary layoffs to continue until further notice and possible permanent layoffs. The personnel negotiations initiated now concern a total of some 400 people.
According to a company press release, these measures are necessary to adjust the production capacity to meet the low demand of products and to ensure the company's competitiveness in the global markets. In order to improve profitability, Cargotec continues to implement its global supply strategy to get closer to the markets and to lower cost environment. To reach this target the company plans to rent production and office facilities in Poland and start assembly of spreaders and terminal tractors within this year. The capacity will depend on the market situation and the demand for the products. In the initial stage the focus is on recruiting the key personnel and setting up the training of product assembly.
Cargotec employs close to 1,600 people in Finland.
Eurofound (2009), Cargotec, Internal restructuring in Finland, factsheet number 68555, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/68555.
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