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.
M-real, a paper manufacturer, announced on 19th February 2008 that it has concluded the personnel negotiations and is to cut 124 jobs in Finland. In November 2007 M-real announced that 80 jobs will be lost in Lielahti (Tampere) with the closure of a site, and 60 jobs will be lost in the Kangas site in Jyväskylä. After the personel negotiations these figures came down to total of 124 employees. Half of the cuts will be direct dismissals, half will be with other measures, for example retirement arrangements.
The job losses will be implemented by the end of May 2008. M-real employs 4,000 in Finland, and 14,000 internationally.
Eurofound (2007), M-real, Closure in Finland, factsheet number 66026, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/66026.