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 wine and spirit distributing and producing company Altia is planning to cut 80 jobs. Altia started personnel negotiations on 14th of May 2009 in its Rajamäki and Koskenkorva units in Finland. Also the Head Office in Helsinki may be affected.
The personnel negotiations are carried out due to the deteriorating financial situation resulting from changes in consumer behaviour. This had a significant impact on the company's operations. The decline in Scandinavian currencies has had a great influence on costs in these countries. The financial situation is forecasted to have an impact on consumers' alcohol habits so that premium products will be replaced by less expensive products, or consumers will transfer to less expensive beverage categories.
In Finland, tax increases in alcohol beverages will reduce sales. In addition, imports by travellers will increase. In other Nordic countries, total sales are expected to remain at the 2008 level.
Altia employs a total of 650 employees in Finland.
Eurofound (2009), Altia, Internal restructuring in Finland, factsheet number 69010, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/69010.