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 motor vehicle manufacturer Valmet Automotive recruits in total 1,000 new employees to its manufacturing sites in Salo and Uusimaa, both located in the southern part of Finland. 700 new employees will be hired in Uusimaa and 300 in Salo. The company plans to hire both white-collar and blue-collar workers to work with manufacturing of batteries and vehicles.
According to the company, the need for new employees has to do with a rapid and significant increase of new orders. In addition, the expansion of the Salo manufacturing site - where the company produces batteries - and the construction of a new battery manufacturing site in Uusikaupunki have increased the need for workforce. The company has recovered fast from the drop in turnover caused by the COVID-19 pandemic.
The recruited workforce will be given permanent employment contracts, and the company will provide training for new employees.
In 2020, Valmet Automotive hired 400 employees in Uusikaupunki and 200 employees in Salo. According to the 2019 annual report, they employ approximately 14,000 people.
Eurofound (2021), Valmet Automotive, Business expansion in Finland, factsheet number 103892, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/103892.