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 Norwegian company for home delivery of food is planning to close its existing online food store in Finland. The company will start cooperation negotiations that concern all of its 165 employees in Finland.
Oda established on the Finnish market about a year ago, in 2022, but dramatic changes in the capital market and the increased cost of finance have resulted in a non-viable business model for the company.
Oda will instead explore the possibility of continuing its business in Finland, but by offering logistics services (Logistics-as-a-Service) to other retailers. The company CEO has however stated, that the aim of the negotiations is that as many employees as possible can continue working within the new logistics services business model.
Update 29/06/2023
The cooperation negotiations resulted in a reduction of 20 positions within the company's marketing, commercial, and customer service teams. 145 employees from other teams will be temporarily laid off for a maximum of 90 days.
Eurofound (2023), Oda Finland, Closure in Finland, factsheet number 109166, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/109166.