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.
On 21 September 2005 the data communications group Finnet, issued to start codetermination negotiations in order to cut jobs by 300. The direct dismissals are estimated to be 180 and the rest of the cuts will be carried out through outsourcing.
On 14 November 2005 Finnet informed of the closed codetermination negotiation round. As a result of the process the number of direct dismissals was cut to 84. In addition to this the personnel will diminish by 150 due to outsourcing of activities.
Eurofound (2005), Finnet, Internal restructuring in Finland, factsheet number 62263, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/62263.