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.
Nokia Siemens Networks has announced redundancies of up to 1,200 employees in its Finnish units in Espoo, Oulu and Tampere. The company is starting mandatory negotiations with employee representatives on the 8th February 2012.
The tentative regional breakdown of job cuts in Finland is as follows: 700 inEspoo, 150 in Oulu, and 350 in Tampere.
Nokia Siemens Networks is a joint venture of the mobile communication companies Nokia and Siemens. The redundancies are a result of the company's decision to focus on wireless broadband equipment at the expense of fixed line communications. In November, Nokia Siemens Networks had announced to cut 17,000 jobs worldwide (see here).
Updated, 22-03-2012: Nokia Siemens Networks (NSN) has concluded negotiations and announced the dismissal of 624 employees from its Finnish locations. It was previously announced that 240 employees will be outsourced to Tieto (an IT services company). In addition, NSN reports that approx. 150 employees have left the company since redundancies were originally announced.
As reported, Finland has applied for assistance from the European Globalisation Adjustment Fund (EGF).
Eurofound (2012), Nokia Siemens Networks, Internal restructuring in Finland, factsheet number 73038, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/73038.
Eurofound’s ERM restructuring legislation database offers an overview of key restructuring-related regulations in the EU Member States and Norway. Its content is continuously updated to reflect any changes made by national legislators in response to, for instance, policy shifts, legal...
Can Europe still achieve its ambitions for battery manufacturing? To answer this, the article looks at data from Eurofound’s European Restructuring Monitor and explores what recent large-scale restructuring events reveal about the state of play in the EU battery sector.
This working paper offers a comprehensive methodological overview of the European Restructuring Monitor (ERM) databases. Even though the methodology has not changed over time, new categories have been added, and the way it has been used by researchers and policymakers...
This Eurofound research paper explores key trends in restructuring in recent years, highlighting the companies that announced the largest job losses and job gains in the EU. It builds on an analysis of company announcements recorded in Eurofound’s European Restructuring...
In 2023, thousands of workers in big tech lost their jobs. Meta, Amazon, Google, Apple, Microsoft and Salesforce had been considered to offer good and secure jobs up to this point. Giants of the information and communication technology (ICT) sector,...
In 2024, the automotive sector in the EU came to the fore in public and policy discussions. The focus was on the slowdown in electric vehicle (EV) sales, rising global competition, belated investments in new technologies, and the potential closure...
