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 Manufacturing Of Machinery And Equipment Manufacture Of Machinery And Equipment N.E.C. 28.30 - Manufacture Of Agricultural And Forestry Machinery
61 jobs Number of planned job losses
Announcement Date
20 February 2024
Employment effect (start)
20 February 2024
Foreseen end date
Description
Finnish forestry equipment manufacturer Ponsse has announced that it will cut up to 140 jobs worldwide.
The company is to renew its global operating model in order to enhance long-term competitiveness, efficiency, and consumer service. The new operating model is expected to be focused on sales and services across five geographic market areas. The programme will bring annual savings of approximately €10 million from 2026 onwards. The new model is planned to be effective as of 01 June 2024.
The company estimates that the planned measure could result in the reduction of around 120-140 jobs globally. In Finland, about 50-60 positions are expected to be cut. The conditions of the programme will be negotiated with employee representatives according to local regulations.
Founded in 1970, Ponsse operates in 40 countries worldwide.
UPDATE 06/05/2024:
It has been announced that Ponsse completed negotiations with employee representatives. As a result, the company will cut its employment by 21 positions in Finland and about 40 outside Finland.
Eurofound (2024), Ponsse, Internal restructuring in World, factsheet number 200826, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/200826.
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