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 mineral and metal processing technology company Outotec is planning to cut 120 jobs in Finland.
Outotec will start new measures to improve internal efficiency targeting at EUR 25 million annualized savings in operational fixed costs compared to the cost level of the fourth quarter of 2009. Part of these savings will be achieved through organizational restructuring. Initial personnel reduction estimate is globally 170 employees, of which approximately 120 employees in Finland. The restructuring will lead to one-time provisions of maximum EUR 20 million during the first half of 2010.
Update 30-03-2010: The final cut figure is 120. Of the reductions, 84 will be conducted right away and the rest by the end of 2010.
Eurofound (2010), Outotec, Internal restructuring in Finland, factsheet number 70216, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/70216.