Finnforest

Type
Internal restructuring
Country
Finland
Region
Manner-Suomi;
Location of affected unit(s)
Sector
Manufacturing
(16 - 17) Manufacture of wood and paper materials
16 - Manufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials
16 - Manufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials
400 jobs
Number of planned job losses
Job loss
Announcement Date
5 May 2004
Employment effect (start)
Foreseen end date

Description

Finnforest Corporation has issued a proposal to start cooperation negotiations concerning all Finnish operations and groups of personnel. The objective is to accomplish a considerable improvement in the corporation's result and thus ensure the profitability, competitiveness and continuity of the company. The operations in Finland will be reorganised to increase efficiency in operations and reduce costs.

The negotiations will begin on May 11 2004. Presently, the negotiations are estimated to lead to a maximum of 400 job reductions.

Sources

  • 5 May 2004: Helsingin Sanomat

Citation

Eurofound (2004), Finnforest, Internal restructuring in Finland, factsheet number 60324, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/60324.