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.
Kemira, a water chemistry company, has announced redundancies of up to 250 employees in Finland (600 worldwide). The company has started negotiations with employee representatives on the cuts. The timeline for the restructuring has yet to be announced.
Kemira's proposed job cuts are related to the company's announced goal to achieve savings of 60 million Euros in order to improve profitability and the manufacturing network.
A chairperson of one affected labour union called Kemira's plan 'heavily excessive' as the company is making a profit and referred to government's 17% ownership of Kemira.
According to its latest interim report Kemira has 5,181 employees worldwide and 1,259 in Finland.
UPDATE 11-10-2012: Kemira has concluded negotiations and announced redundancies of 152 employees, 79 of whom will leave through retirement.
Eurofound (2012), Kemira, Internal restructuring in Finland, factsheet number 73960, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/73960.
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