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 agricultural equipment manufacturer Agco is planning job cuts in Finland in its subsidiaries Agco Power and Valtra. Up to 100 positions may be eliminated: 60 in Äänekoski and 40 in Nokia. Only white-collar employees are within the scope of the negotiations, 500 of which work in Suolahti and 350 in Nokia.
The need for reductions is due to the reorganisation of Agco's global operations and seeking efficiency through AI and new technologies. The restructuring is a response to a drop in the market for manufacturing equipment that has taken place in 2024.
Agco is one of the largest manufacturing companies for agricultural equipment globally. In Finland, the company has 2,300 employees.
Update 2024-12-03
As a result of a collective consultation process, agricultural equipment manufacturer Agco will make a total of 60 white-collar employees redundant. Of the dismissals, 36 will take place in Suolahti and 24 in Nokia.
Eurofound (2024), Agco, Internal restructuring in Finland, factsheet number 201794, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/201794.