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 manufacturer of advanced technology for the shipping and energy sector Wärtsilä has initiated employer-employee negotiations aiming to cut 540 jobs globally of which 270 jobs will be cut in Finland. The core product of Wärtsilä is large combustion engines for cruise ships and ferries. The company has suggested that increasing competition is the main reason for the redundancies. In Finland R&D activities will be streamlined to focus primarily on engine related actives.
Wärtsilä has approximately 19 000 employees in 17 countries. Two main branches affected by the redundancies are Wärtsilä Marine Solutions and Wärtsilä Energy Solutions. Marine solutions employs 6681 individuals and Energy Solutions has 958 employees globally.
The ERM has previously reported on redundancies at Wärtsilä in Finland in 2015, and globally in 2015as well.
Update 16/6/2016:Following concluded employer-employee negotiations, Wärtsilä will lay off a total of 183 people. Initially the internal restructuring was anticipated to lead to 270 redundancies. 100 of the lay offs concern blue-collar workers and 83 white-collar positions are made redundant. Most of the cuts will be in Vaasa where a total of 172 positions are being made redundant. In addition some employees will be temporarily laid off for a maximum of 63 days. Out of the 183 redundancies, 160 jobs will be cut within Wärtsilä Marine Solutions and 23 within Wärtsilä Energy Solutions.
Eurofound (2016), Wärtsilä, Internal restructuring in Finland, factsheet number 87471, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/87471.
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