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.
Manufacturing Manufacturing Of Machinery And Equipment Manufacture Of Machinery And Equipment N.E.C. 28.30 - Manufacture of agricultural and forestry machinery
120 jobs Number of planned job losses
Announcement Date
7 June 2022
Employment effect (start)
Foreseen end date
Description
Ponsse- a Finnish manufacturer of forestry machinery- has initiated cooperation negotiations in order to cut up to 120 job positions. The job cuts will affect all employee groups and functions in Finland (with the exception of Ponsse's affiliate company Epec Oy).
The Russian invasion of Ukraine has had a major impact on the company since imports to Russia and Belarus were stopped and the invasion led to a rapid increase in manufacturing costs and insecurities in terms of access to components. Ponsse's imports to Russia and Belarus were approximately 20% of their profit in 2021. Nowadays the company needs to adjust to the new market situation, in the short period Russia's market is not replaceable.
Ponsse has approximately 2,000 employees in Finland.
Eurofound (2022), Ponsse, Internal restructuring in Finland, factsheet number 106947, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/106947.
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