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.
Stora Enso has announced redundancies of 60 to 125 employees from four of its packaging material plants in Finland. The company is starting negotiations with employee representatives on the cuts.
Stora Enso is planning to close its plant in Ruovesi (60 jobs) and reduce workforce in Heinola, Inkeroinen and Pori. Stora Enso announced redundancies in Europe of a total of 520 (Finland, Poland, Sweden). The company refers to the need to improve its profitability and save 36 million Euros annually as reasons for the redundancies.
The unions have sharply criticised Stora Enso for 'abandoning Europe.' They have also called for government intervention as 35% of the company is owned by Finnish public institutions.
Eurofound (2012), Stora Enso, Internal restructuring in Finland, factsheet number 74404, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/74404.
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