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.
Construction Construction Of Buildings And Infrastructure Engineering Civil Engineering 42 - Civil engineering
350 jobs Number of planned job losses
Announcement Date
17 November 2008
Employment effect (start)
Foreseen end date
1 June 2009
Description
The Finnish construction company YIT is to cut 350 jobs in Finland. The planned job losses are due to the financial crisis and the recession which has considerably weakened the construction industry. According to YIT, the company is cutting 100 clerical jobs and some 250 other jobs. Jobs are to be cut permanently or temporarily. The personnel negotiations concern the whole personnel in Finland.
Restructuring measures are to be implemented by the first half of 2009.
YIT employs some 10,600 workers in Finland.
Sources
17 November 2008: www.kauppalehti.fi
Citation
Eurofound (2008), YIT, Internal restructuring in Finland, factsheet number 68241, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/68241.
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