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.
Talgo Otanmäki, part of Spanish parent company Talgo Parentes S.A, starts personnel negotiations wiith the view to initiate lay-offs and termination of employment contracts.
Negotiations concern dissmissals of 30 clerical personnel, lay-offs of 40 employees and termination of 65 part-time contracts.
According to the CEO Markku Blomberg the company has to adjust its operations due to the delay of financial resolution from VR (Valtionrautatiet, State Railway Company) concerning the terms for building and leasing 20 InterCity coaches.
Talgo Oy manufactures rail vehicles and mid-weight engineering shop products. The company has a turnover around 56M and employs a total of 400 persons in Oulu office and Otanmäki Works units in Finland.
Eurofound (2006), Talgo, Internal restructuring in Finland, factsheet number 63315, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/63315.