Internal restructuring
Location of affected unit(s)
Financial Services
Financial And Insurance Activities
Insurance, Reinsurance And Pension Funding, Except Compulsory Social Security
65 - Insurance, reinsurance and pension funding, except compulsory social security

150 jobs
Number of planned job losses
Job loss
Announcement Date
21 October 2003
Employment effect (start)
Foreseen end date


Pohjola has announced plans to cut its workforce by 150 employees. The cuts will be carried out due to the change in customer behaviour characterised by an increased use of tele- and internet services. 150 workers are affected in Finland.

19 January 2004.

The staff reduction at Pohjola will be carried out without redundancies. At the cooperation negotiations between employer and employee representatives concluded in December 2003, the exact figure for staff reduction was set at 144. The reduction will be carried out by means of natural attrition, retraining, job rearrangements and support packages. New posts at Pohjola have been taken up by 28 people and 116 people choose a support package. To those who chose a support package, Pohjola will also give assistance in preparing to apply for a new job and in adjusting to new circumstances in working life.


  • 19 January 2004: Helsingin Sanomat
  • 21 October 2003: Helsingin Sanomat


Eurofound (2003), Pohjola, Internal restructuring in Finland, factsheet number 59029, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/59029.