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 packaging materials manufacturer Walki announced the loss of 63 jobs. The planned reduction was of 80 employees but following negotiations with social partners Walki agreed on dismissing 63 employees.
Walki started personnel negotiations on January 28, 2010. The initiated performance improvement program is to affect all employee groups at Walki's Finnish plants in Pietarsaari and Valkeakoski. It is estimated that the personnel reduction need is 80 employees.
The difficult situation of the European paper industry, and increased raw-material and other production costs has had a negative impact on the company's development.
The restructuring process will be carried out during 2010. In order to further improve the productivity of the Finnish plants an investment program will be implemented in connection with the restructuring measures.
Walki's production units in Finland, Germany, the U.K. China and Sweden combined have an annual production capacity of 300,000 tonnes, an annual net sales total of 300 million euros and a workforce of 1,000 employees.
Walki employs 435 employees.
Eurofound (2010), Walki, Internal restructuring in Finland, factsheet number 70138, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/70138.