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.
Myllykoski Paper plans to cut up to 140 jobs from its plant in Kouvola (Finland). The company is to start negotiations on the proposed cuts with employee representatives on 20 December 2010.
In addition to the direct dismissals, cuts may be also implemented through outsourcing. Temporary lay-offs have also been made and will continue. The plant in Kouvola produces magazine paper and it has reportedly been unprofitable. The cuts are part of an improvement program which is to save 30 million euro by the end of 2011.
One employee representative expressed concerns in relation to the proposed cuts, which he labelled ‘unrealistic'. He was particularly critical over the plans to outsource jobs, but stated that no walkouts or other demonstrations have been planned.
Update, 17-02-2011: Myllykoski has completed negotiations and revised the redundancies downwards - 89 employees will lose their jobs rather than 140 as originally announced. Most of the job cuts will be implemented through direct dismissals, but some jobs may also be outsourced.
Eurofound (2010), Myllykoski Paper, Internal restructuring in Finland, factsheet number 71305, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/71305.
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