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 paper and forestry company Stora Enso has initiated cooperation negotiations at its’ factory in Anjalankoski, Finland concerning an estimated 110 people out of the 500 employees on the factory complex.
The closure would take place during the fourth quarter of 2023. Stora Enso says they are committed to work closely with other Stora Enso locations, the local community and other stakeholders to support in re-employment and training of the employees.
The company plans to shut down one of the two paper machines on the site permanently. Underlying the company’s decision is the long process of digitalisation reducing the demand for printing and letter paper. Rising input costs due to inflation have exacerbated the situation, as the company suspects publishers increasingly resorting to digital rather than printed media.
The union representative and primary shop steward remains critical to the reasoning Stora Enso has given, as inflation has affected all input costs for all actors.
Stora Enso underwent factory closures in 2021 in both Sweden (Stora Enso 2021 - SE ) and Finland (Stora Enso 2021 - FI).
Stora Enso is a Finnish-based multinational company with around 23,000 employees worldwide and approximately 5,600 employees in Finland.
Updated 13/6/2023:
The cooperation negotiations have been completed and the company announced that the closure will affect 89 employees, of whom 50 will be made redundant. Most of the redundancies will be managed through pension arrangements.
Eurofound (2023), Stora Enso, Closure in Finland, factsheet number 108812, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/108812.
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