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 Manufacture Of Wood And Paper Materials 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
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 corporations 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://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/60324.
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