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.
Lemminkäinen, a Finnish construction and infrastructure company, has announced redundancies of up to 300 workers from its Finnish operations. The company is continuing negotiations on the details.
The company announced in October that it needs to save 50 million Euros starting in 2013. It projected that up to 300 redundancies would be necessary from its operations worldwide, which total 8000 employees (mainly in Finland, other Nordic countries, Baltic countries and Russia). Lemminkäinen has now confirmed the number and reports that most of the cuts will concern Finland.
Lemminkäinen is perhaps best known for road construction, but it is also involved in building construction.
UPDATE, 03/12/2012 - Finnish company Lemminkäinen has concluded its employer-employee talks and will cut maximum 300 jobs by the end of 2012.
Eurofound (2011), Lemminkäinen, Internal restructuring in Finland, factsheet number 72816, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/72816.