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.
The Estonian shipping company Tallink concluded its personnel negotiations. In total, 128 reductions will be made, mainly in the overlapping functions in the three separate sales and administration organisations in metropolitan regions (Helsinki, Espoo, Turku).
Tallink started negotiations on the reduction of 180 jobs in Finland in September 2006. According to the company the main reason for staff reduction was that the operations on land of Silja Line shipping company will be absorbed into Tallink. The acquisition of Silja Line was completed earlier this year.
The aim of the company was to reduce overlapping functions. Tallink Finlands CEO Keijo Mehtonen explains that as a consequence of the acquisition the company has now three separate sales and administration organisations. The majority of the reductions will be accomplished in these departments. Mr Mehtonen points out that in the telephone selling or check-in operations there is no such a need for cutbacks in staff.
AS Tallink Grupps subsidiary companies Tallink Finland Oy and Silja Line Oy Ab employ 700 people in Finland. The number includes the employees who work in companys offices on land. The majority of Silja Lines personnel on land are employed in Espoo, but also in other metropolitan regions (Helsinki and Turku). Respectively, Tallinks employees in Finland are located in Helsinki and Tampere.
AS Tallink Grupp employs about 2,600 people worldwide and its turnover was 260 million euro in 2005. The number of passengers was 3.2 million in 2005. Silja Line employs 2,740 people and the turnover was EUR 380 million in 2005. The number of passengers was 3.4 million that same year. In the future, AS Tallink Grupp will continue to operate under both brands in the Baltic Sea.
Eurofound (2006), Tallink Finland Oy, Merger/Acquisition in Finland, factsheet number 63960, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/63960.
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