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 lifting equipment manufacturer Konecranes is planning to cut 80 jobs. With the continuing weak demand for lifting equipment, Konecranes is expecting the headcount number to further decrease during the coming quarters. Konecranes Heavy Lifting Corporation will start personnel negotiations regarding possible temporary and permanent layoffs. Konecranes Heavy Lifting Corporation supplying port cranes and heavy industrial cranes, employs about 620 people in Finland.
The aim of the measures is to adjust the company's cost structure and capacity to correspond with the current, weakened market situation and to secure future competitiveness.
Konecranes has already adjusted its capacity through various arrangements, e.g. by reducing the use of hired personnel and temporary employment. Additionally, the company has shifted subcontracting back to in-house production.
Eurofound (2009), Konecranes, Internal restructuring in Finland, factsheet number 69014, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/69014.