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.
VTT Technical Research Centre of Finland, a state non-profit research organisation, has begun co-operation negotiations to reduce its workforce by 335 positions spread over all its research facilities in Finland. In addition to the reductions, other organisational changes can be expected. The reductions are part of an effort by VTT to face decreasing demand and a decrease in funding from the Finnish government by reducing its costs by €10-15 million. VTT conducted similar negotiations last year when a total of 255 workers left the company as a result of retirement and other arrangements.
VTT employs a total of 2,478 people and operates from 10 different facilities in Finland.
Update: On the 23rd of October 2014, it was announced that the lay-offs will affect 335 employees, rather than the initial estimate of 350. To date, 250 employees have been terminated.
Eurofound (2014), VTT Technical Research Centre of Finland, Internal restructuring in Finland, factsheet number 77514, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/77514.
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