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.
Oil refining and marketing company Neste Oil, Finland, has initiated employer-employee negotiations concerning 250 jobs. The negotiations are part of a restructuring plan in which the company plans to rearrange business in order to optimize production.
At present, little is knowen regarding which sites in Finland will be affected by the job cuts, but the company has announced that it plans to manage the refineries in Porvoo and Naantali as one, and that part of the production facilities in Naantali will be closed as a result.
Neste Oil employs a total of 1,000 people in Finland. The company has operations in 14 countries globally and employs over 5,000 people.
Update 26-11-14: The negotiations finished 26 November 2014. The outcome was a reduction of 203 jobs. Of them, approximately 100 persons have opted to take voluntary retirement. According to the press release the company will provide various forms of support to the remaining 97 persons.
Eurofound (2014), Neste Oil, Internal restructuring in Finland, factsheet number 77663, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/77663.
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