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.
Professional Services Scientific, Architectural And Engineering Technical Activities Architectural And Engineering Activities; Technical Testing And Analysis 71.1 - Architectural and engineering activities and related technical consultancy
350 jobs Number of planned job losses
Announcement Date
22 June 2011
Employment effect (start)
Foreseen end date
Description
YIT Teollisuus, a Finnish subcontractor of YIT Group, has announced plans to lay off up to 350 employees.
YIT Teollisuus has begun mandatory negotiations with employee representatives on the proposed cuts. The negotiations are set to conclude on August 22. Cuts need not all be dismissals, but relocations within the group and retirements are options.
YIT Teollisuus provides various technical services for manufacturing and construction companies. The company states that the demand for its services has declined.
Sources
24 June 2011: YLE Internet News
Citation
Eurofound (2011), YIT Teollisuus, Internal restructuring in Finland, factsheet number 72110, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/72110.
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