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 Manufacture For Transport Equipment Manufacture Of Motor Vehicles, Trailers And Semi-Trailers 29.3 - Manufacture of parts and accessories for motor vehicles
940 jobs Number of planned job losses
Announcement Date
10 January 2023
Employment effect (start)
1 April 2023
Foreseen end date
31 May 2023
Description
The Finnish vehicle manufacturer Valmet Automotive has concluded cooperation negotiations concerning all of the workforce in the company’s factory in Uusikaupunki, Finland. The total reduction of workforce adds up to 940 employees, out of which approximately half will be temporary layoffs and the rest dismissals. The cooperation negotiations did not apply to the company’s battery manufacturing operations.
Valmet Automotive has given reduced customer demand as the underlying reason behind the redundancies. Towards the end of 2023 the company hopes to see an increase of 150 staff engaged in the production of the Mercedes-AMG GT-model.
Valmet automotive underwent a restructuring in 2022 in Uusikaupunki (Valmet 2022 -FI), resulting in 300 dismissals and 700 staff on temporary lay-off.
Valmet Automotive is a leading European contract manufacturer of vehicles and battery systems, with operations in Finland, Germany and Poland. The Finnish state-owned investment company Tesi is one of the largest shareholders. Valmet Automotive employs 14,000 persons globally and 4,197 in Finland at the end of 2021. After the cooperation negotiations are concluded, the Uusikaupunki factory will have 1,400 Valmet automotive staff.
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The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
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