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.
The Nokia plant based in Salo will be closed down with the loss os 2,300 jobs. The closure is part of the announced 7,800 jobs cut which Microsoft annoounced. Nokia was previously acquired by Microsoft in 2012. Some tasks will be moved to Espoo and Tampere where some high-end product activities will still be carried on.The main reason behind the workforce reductions at Microsoft is the declining market share of its phones using the Microsoft Windows operating system.
Update 11/03/2016: The EGF received an application from Finland following the dismissal of 2,161 workers in Microsoft and eight of its suppliers and downstream producers.
Eurofound (2015), Microsoft, Closure in Finland, factsheet number 83984, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/83984.