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.
A Finnlines subsidiary, stevedore company Finnsteve, has announced that it will cut 160 jobs at the ports in Helsinki, Kotka, and Turku. The port of Helsinki will lose the largest number of jobs, i.e. 120 of 375 stevedores. Finnsteve employs about 700 workers in the three affected ports.
The company blames the redundancies on two unprofitable years. The mandatory negotiations with the employee representatives already took place. In the meantime, Finnsteve stevedores in Helsinki announced an immediate three-day walkout to protest against the cuts. They cited Finnlines Group's announcement that business has been improving since 2009.
Eurofound (2011), Finnsteve, Internal restructuring in Finland, factsheet number 71686, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/71686.