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.
Itella, previously known as Finnish Postal Service, has announced plans to reduce up to 430 employees from its workforce. The company has initiated mandatory negotiations with employee representatives on the proposed cuts.
Itella is citing the shift toward electronic communication as the main reason for its decision. This applies espacially to newspapers and magazines. The company states that it seeks to cut its costs by 100 million euros in three years. Union representatives have called the planned cuts "excessive".
In addition to layoffs, restructuring in Itella may involve retirements and increased part-time work. The affected units are a mail-handling centre in Lappeenranta as well Itella's own stores and a marketing unit.
Updated, 13-09-2011: Itella has expanded the lay-off negotiations to include a maximum of 430 person-years from its administration, thus making the tentative total 860 redundancies.
Updated, 06-10-2011: Itella has concluded the first set of negotiations and announced 245 lay-offs from a mail-handling centre, marketing unit, and post offices. Redundancies will start in early 2012. The second set of negotiations is still on-going.
Updated, 31-10-2011: Itella has concluded the second set of negotiations and reported additional 253 redundancies from its administration. This brings the total to 498.
Eurofound (2011), Itella, Internal restructuring in Finland, factsheet number 72294, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/72294.