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 Wholesale Cooperative Society (SOK), the central organization of the Finnish cooperative wholesale and retail group S-ryhmä, has announced redundancies of up to 270 employees. The company has started negotiations with employee representatives on the cuts. Cooperative S-ryhmä is one of Finland's largest wholesale and retail groups. Its central organization SOK has approximately 1,900 employees of which up to 270 may become redundant. The negotiations do not include regional cooperatives or group's other subsidiaries. The company states that the central services are not profitable and that up to 50 million Euros need to be saved. The negotiations are to be concluded by summer. Chairperson of the service workers' union PAM called for responsible negotiations and noted that the entire group S-ryhmä is successful and continues to grow.
Updated, 29/05/2013 SOK (S-Group) has concluded negotiations and announced 240 redundancies. Up to 180 employees will be dismissed and 60 positions are to be cut by other means, eg. not renewing temporary positions.
Eurofound (2013), SOK, Internal restructuring in Finland, factsheet number 75171, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/75171.
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