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 Computer, Electrical Electronic And Optical Products Manufacture Of Electrical Equipment 27 - Manufacture of electrical equipment
New offshoring locations
65 jobs Number of planned job losses
Announcement Date
25 November 2005
Employment effect (start)
Foreseen end date
Description
On 26 November 2005 the manufacturer of sports instruments and heart rate monitoring, registering and evaluation equipment, Polar Electro, started codetermination negotiations with all its employees in order to cut an unknown number of jobs. The company is planning to move part of the production to China. The goal of the measures is to reach better cost efficiency. On 16 January 2006, Polar Electro informed of the ended codetermination negotiations. As a result the company will make 65 employees redundant.
Sources
26 November 2005: Helsingin Sanomat
17 January 2006: Helsingin Sanomat
Citation
Eurofound (2005), Polar Electro, Offshoring/Delocalisation in Finland, factsheet number 62564, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/62564.
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