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 telecommunications company, Telia, has initiated cooperation negotiations in Finland involving 800 employees, planning the lay-off of more than 100 people. The negotiations concern the infrastructure business, the Common Products and Services unit, as well as part of the support operations unit in Finland. As part of the restructuring, some new positions will be created while others will be removed. Telia has also initiated negotiations in Sweden and Norway.
Rising energy prices and interest rates have negatively affected Telia's profits. According to the company's head of communications, the reason for the redundancies is modernisation of the organisation and support for digitalisation.
The telecommunications company operates in the Nordic and Baltic countries, employing 20,000 people, out of which 4,000 in Finland.
Update 8/3/2023
Telia has finalised cooperation negotiations in the infrastructure unit, the Common Products and Services unit and support functions Finland. As a result, 101 positions will be removed and 45 new positions created. Telia Finland also launched negotiations in early February in the corporate business unit, which are still ongoing.
Update 29/03/2023
Telia has finalised the cooperation negotiations in the corporate business unit, resulting in 39 positions ending while 6 new ones are created.
Eurofound (2023), Telia, Internal restructuring in Finland, factsheet number 108221, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/108221.
Eurofound’s ERM restructuring legislation database offers an overview of key restructuring-related regulations in the EU Member States and Norway. Its content is continuously updated to reflect any changes made by national legislators in response to, for instance, policy shifts, legal...
Can Europe still achieve its ambitions for battery manufacturing? To answer this, the article looks at data from Eurofound’s European Restructuring Monitor and explores what recent large-scale restructuring events reveal about the state of play in the EU battery sector.
This working paper offers a comprehensive methodological overview of the European Restructuring Monitor (ERM) databases. Even though the methodology has not changed over time, new categories have been added, and the way it has been used by researchers and policymakers...
This Eurofound research paper explores key trends in restructuring in recent years, highlighting the companies that announced the largest job losses and job gains in the EU. It builds on an analysis of company announcements recorded in Eurofound’s European Restructuring...
In 2023, thousands of workers in big tech lost their jobs. Meta, Amazon, Google, Apple, Microsoft and Salesforce had been considered to offer good and secure jobs up to this point. Giants of the information and communication technology (ICT) sector,...
In 2024, the automotive sector in the EU came to the fore in public and policy discussions. The focus was on the slowdown in electric vehicle (EV) sales, rising global competition, belated investments in new technologies, and the potential closure...
