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.
On 28 April 2011, the Finnish telecommunications multinational Nokia announced that it will cut the workforce at its handset business by 7,000 by the end of 2012. Around 4,000 employees will be made redundant and a further 3,000 are to be transferred to Accenture, the consulting and technology services group, under an outsourcing deal. This follows a decision in February 2012 to try to fight back in the smartphone market by using Microsoft software. The group has around 132,000 employees worldwide and around 59,000 are employed in its handset business. Around 1,400 jobs are to go in Finland.
Eurofound (2011), Nokia, Internal restructuring in World, factsheet number 71891, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/71891.