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.
Valtion Teknillinen Tutkimuskeskus (VTT, Technical Research Centre of Finland), has announced redundancies of up to 200 of its approximately 2,800 employees. It has initiated negotiations with employee representatives on the cuts.
The job cuts are attributed to poor financial outcomes and reduced demand for its services. In addition to redundancies, other changes in employment terms may also take place. Unions representing VTT employees criticized the plans. Till now there is no specific timeline for the restructuring plan.
VTT Technical Research Centre of Finland is a no-profit organization operating under the Finnish Ministry of Employment and the Economy. It is engaged in research, development and testing as well as in other activities in the technology field.
Updated, 04-06-2013: VTT has concluded negotiations and confirmed approximately 160 redundancies, Approximately 100 employees will be dismissed and another 60 positions will be reduced through retirements and ending temporary contracts.
Eurofound (2013), Valtion Teknillinen Tutkimuskeskus, Internal restructuring in Finland, factsheet number 75250, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/75250.
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