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 Finnish defence industry company, Patria, will initiate negotiations with its employees with the intention to reduce up to 130 jobs. The reductions are due to financial and production reasons and reorganisation of activities.
The negotiations concern some 1,300 employees of the total 2,800 people employed with the Patria Group. Reductions are expected to be concentrated with the 800 employees working at the Jämsä site in Central Finland. The production organisations of the Aerostructures and Systems units and Millog Oy, which carries out maintenance for the Finnish Defence Forces and is partly owned by Patria will remain unaffected. The company hopes to conclude the negotiations within six weeks.
Patria's profits have failed to reach set targets and the company has adopted a new business strategy in 2016-2017. In spring 2017, the company cut seven employees from its Aerostructures section. Additionally, some 40 people were temporarily dismissed for 3-6 weeks during summer 2017.
Updated, 05/10/2017: Following the conclusion of employer-employee negotiations, Patria has announced it will reduce a total of 101 employees, taking effect in late 2017. Most of the lost jobs are located in the Pirkanmaa and Central Finland regions. Reductions will be done through direct dismissal, discontinued temporary contracts, retirements and outsourcing. Patria continues to investigate potential further outsourcing of some of its activities.
Eurofound (2017), Patria, Internal restructuring in Finland, factsheet number 91744, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/91744.
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