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 state-owned postal, financial administration process and logistics services company Itella has announced that it is cutting 319 jobs as part of a larger restructuring of the organisation. The need to restructure is an effect of the structural changes of the postal service sector such as a decreasing demand for traditional services in favour of electronic solutions. According to the press release; "Itella's renewal is largely directed by changes in customer behavior".
Itella announced that the reduction of 319 jobs will affect "expert and supervisory positions in administration as well as planning and supervisory duties in production" while traditional blue-collar positions will not be affected.
The announcement comes after Itella reported that it had successfully achieved its previous performance improvement programme of 2013 ahead of schedule. Itella also announced that it will release a new cost reduction programme for 2015-2016 aiming to save €75 million. Itella operates in 11 European countries and employs a total of 27,253 people.
Update 11-10-2014: On the 11th of October 2014, it was announced that Itella had concluded its employer-employee negotiations and is cutting 239 jobs. The employees at Itella have been affected by several recent restructuring events in 2014, and 2013.
Eurofound (2014), Itella, Internal restructuring in Finland, factsheet number 77515, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/77515.
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