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.
On 15 September 2014 Finnish broadcasting company YLE initiated negotiations in order to cut 185 positions. The negotiations affect the fact and fiction, media production and publishing departments. News, current events and the sport sections are excluded from the negotiations.
According to YLE, the company must cut back on their spending in order to adapt to the public service tax not being index adjusted this year, which has led to a €10 million deficit. At the same time, Yle is planning to invest more on the web. New operating models will be introduced and the content and services will be renewed to adapt to changing demand for media services by their customers.
The statutory negotiations will begin on 22 September 2014 and will affect around 1,000 people in total, a third of Yle's total work force (3,600). Yle is a state owned public service publishing and broadcasting company that operates 4 Tv-channels, 6 national radio-channels, 25 local radio-channels and the online newspaper yle.fi. In 2005Yle conducted similar negotiations to cut 400 jobs.
Updated,13-11-2014: YLE announced that the outcome of the negotiations was that the company will make 74 employees redundant, rather than the initial estimate of 185. The bulk of the cut, 50 positions, will be from production units.
Eurofound (2014), Yle, Internal restructuring in Finland, factsheet number 77559, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/77559.