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.
Finland based global IT services provider Tieto is to cut 112 jobs in three company units in Finland.
The company has concluded negotiations that started in August, with the immediate cut of 112 jobs and the additional temporary lay-off of 12 employees.
According to the sources the restructuring affects the company’s Managed Services, Product Development and Administrative Services units.
As announced, the job reduction measures are part of a cost-saving restructuring plan, including several similar rounds of redundancies in 2012-13 in Finland (Tieto -FI2012 and Tieto -FI2013) as well as globally (Tieto-EU2012).
Update, 14-10-2013: Tieto has announced negotiations on cutting up to 350 further positions in Finland by the end of Q1 of 2014. The redundancies are to affect Managed Services (up tp 170 job losses), Product Development (up tp 90) as well as Telecom, Energy and Media Industry businesses (up to 25). The remaining job cuts are to proceed on individual basis and through retirement agreements. With additional measures, the total job cuts are expected to amount to 462.
Update, 25-11-2013: Tieto has concluded negotiations that started in October 14 and confirms a reduction of 323 jobs. Of them 244 are dismissals and 79 either resignations or retirements. In addition, 27 persons will be laid off temporarily.
Eurofound (2013), Tieto, Internal restructuring in Finland, factsheet number 75980, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/75980.
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