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.
Fidenta, a Finnish IT consultancy company based in Helsinki, has announced plans to lay off up to 150 of its 200 employees. The company has started mandatory negotiations with employee representatives on the proposed cuts. Cuts are scheduled to take place during the second half of 2012 and the first half of 2013.
Fidenta is a joint venture of the IT service company Tieto (80%) and banking group Nordea (20%) and it provides IT services to Nordea. Nordea announced its own restructuring in 2011 (18353) and this restructuring is now extended to services provided by Fidenta. Some of the services may also be moved to Tieto's units outside Finland.
Union representatives have criticised the cuts and pointed out that possible offshoring of Nordea's IT services may become a security risk.
Eurofound (2012), Fidenta, Internal restructuring in Finland, factsheet number 73375, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/73375.
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