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.
Financial Services Financial And Insurance Activities Financial Service Activities, Except Insurance And Pension Funding 64 - Financial service activities, except insurance and pension funding
143 jobs Number of planned job losses
Announcement Date
12 October 2011
Employment effect (start)
1 December 2011
Foreseen end date
Description
Finnish financial services group Tapiola has announced plans to lay off up to 230 employees. The company has started negotiations with employee representatives on the proposed cuts.
Tapiola provides both insurance and banking services. The layoffs are foreseen mainly among development and information technology personnel. Tapiola cites decreased profitability and poor economic outlook as reasons for the announced cuts. It expects negotiations to be concluded by early December, 2011.
UPDATE, 08/12/2011: Tapiola has concluded its employer-employee negotiations and is to cut 143 jobs instead of 230 as originally announced.
Sources
12 October 2011: Taloussanomat
12 October 2011: YLE Internet News
8 December 2011: Press release
Citation
Eurofound (2011), Tapiola, Internal restructuring in Finland, factsheet number 72569, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/72569.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
