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.
TeliaSonera Finland, Finnish branch of Swedish telecommunications company TeliaSonera, has announced that it plans to cut up to 165 employees in 2011. This is part of a larger restructuring plan which will result in the loss of another 640 jobs in Sweden. The job cuts are attributed to the need to implement efficiency savings. The company announced that it intends to hire 200 new employees with up-to-date skills. Of them, 170 will be hired in Sweden and 30 in Finland. The job cuts will mainly affect the fixed broadband segment.
The news was given when TeliaSonera reported its result from 2010. No official announcement of mandatory negotiations has been made yet.
TeliaSonera was formed in 2002 as a merger between Swedish Telia and Finnish Sonera, both of which had previously been national telecom companies. In Finland, the company operates in mobile and broadband services under its former Sonera brand and it has approximately 4,600 employees.
Updated 24-02-2011: TeliaSonera has announced the start of mandatory negotiations with its employees concerning the proposed cuts. These have now been revised upwards (200 employees). Cuts would take place in Vaajakoski and Lappeenranta.
Updated 04-05-2011: TeliaSonera has concluded negotiations and is now reporting that it will lay off 170 employees.
Eurofound (2011), TeliaSonera Finland, Internal restructuring in Finland, factsheet number 71570, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/71570.
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