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.
Finnish financial services group Tapiola has announced plans to lay off up to 230 employees. The company has started negotiations with employee representatives on the proposed cuts.
Tapiola provides both insurance and banking services. The layoffs are foreseen mainly among development and information technology personnel. Tapiola cites decreased profitability and poor economic outlook as reasons for the announced cuts. It expects negotiations to be concluded by early December, 2011.
UPDATE, 08/12/2011: Tapiola has concluded its employer-employee negotiations and is to cut 143 jobs instead of 230 as originally announced.
Eurofound (2011), Tapiola, Internal restructuring in Finland, factsheet number 72569, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/72569.
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