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.
DNA, a telecommunications firm, has announced that it is to cut 120 jobs. The job cuts are a result of the imminent merger of DNA, the mobile telecommunications and cable television branches of the firm Finnet, and six smaller local telephone network firms that has been agreed upon. DNA intends to make the 120 redundancies in order to reduce the scope for overlapping operational functions when the merger goes ahead. The firm will begin negotiations over the job cuts on August 21st 2007, and the cuts will affect staff who work in DNA’s telephone network business. According to DNA managing director Arto Kaikkonen, it is as yet unknown what areas of Finland the job cuts will affect. DNA employs 1,350 in Finland. Approximately 1,150 of these employees work in the firm’s telephone network business, and the remaining 200 work in the firm’s mobile telephone business.
18th October 2007
As of October 18th 2007, DNA has announced that after personnel negotiations it is to cut 115 jobs. 35 of these job losses will be implemented through early retirement. The job losses are to be implemented incrementally and are due to be completed by December 2008.
Eurofound (2007), DNA, Merger/Acquisition in Finland, factsheet number 65699, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/65699.