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.
Information / Communication Computer Programming, Consultancy And Related Activities Computer Programming, Consultancy And Related Activities 62.09 - Other information technology and computer service activities
120 jobs Number of planned job losses
Announcement Date
4 May 2023
Employment effect (start)
4 May 2023
Foreseen end date
31 December 2023
Description
The Finnish digital services and software company Tietoevry has initiated cooperation negotiations in its Tech Services subsidiary with the plan to cut 120 positions in Finland and a total of 500 roles globally. In addition to Finland, lay-offs will target Sweden, Norway, Czech Republic and India and will impact up to 6% of the company’s total staff. The lay-offs will take place gradually during 2023, focusing on Q2 and Q3.
The cooperation negotiations are a result of Tietoevry’s merge of two of its branches, Tietoevry Transform and Tietoevry Connect into the new Tech Services branch. The merge was initiated in late 2022 and concluded in April 2023. The company has decided to streamline and downscale services as part of the new structure, and is considers selling the newly emerged subsidiary.
Tietoevry has undergone large recruitments in Finland in both early and late 2021. The company has laid off 600 staff in the Nordic countries in early 2022 and another 250 in Sweden, Norway, Finland and India in late 2022.
Tietoevry is a multinational company headquartered in Finland, which employees 8,000 persons globally. In Finland, the company had 2,983 employees at the end of 2021.
Eurofound (2023), Tietoevry, Merger/Acquisition in Finland, factsheet number 109021, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/109021.
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