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.
Finnet has announced it would start cooperation talks with its personnel in June 2004. It is estimated that 230 jobs will be cut. Increasing competition among the teleoperators is the reason for this cost saving programme. On 22 July 2004, as n result of the cooperation talks, Finnet has decided to cut its labour force by 160 employees. Direct dismissals concern 39 employees. The rest of the reductions will be carried out by outsourcing and ending the fixed term contracts.
Eurofound (2004), Finnet, Internal restructuring in Finland, factsheet number 60358, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/60358.