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.
Finnish paper and forestry company Stora Enso has announced plans to cut 1,150 jobs from its EU workforce. The company will permanently close down its Sunila pulp production unit in Finland, the De Hoop containerboard site in the Netherlands, one containerboard line at its Ostrołęka site in Poland, and the Näpi sawmill in Estonia. The closures would target a reduction of approximately 600 employees. Stora Enso will also initiate negotiations regarding a planned reduction of office employees, and there approximately 300 employees will be dismissed. As part of this EU-wide plan, the company has completed a majority of the change negotiations in its Packaging Materials division already, with a reduction of approximately 250 positions in its management and support functions. The restructuring plan has been attributed to increased competition for pulp wood and reduced imports of wood from Russia.
Restructuring events that have been a result of this EU-wide plan for Stora Enso have been recorded in the ERM database, including 185 job cuts in the Netherlands (Stora Enso-2023-NL), 100 in Estonia (Stora Enso-2023-EE) and a further 250 job cuts in Finland (Stora Enso-2023-FI).
Eurofound (2023), Stora Enso, Closure in European Union, factsheet number 109209, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/109209.
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