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.
Information / Communication Computer Programming, Consultancy And Related Activities Computer Programming, Consultancy And Related Activities 62.0 - Computer programming, consultancy and related activities
1,300 jobs Number of planned job losses
Announcement Date
20 March 2012
Employment effect (start)
20 March 2012
Foreseen end date
31 December 2013
Description
Finnish IT company Tieto is to cut 1,300 jobs, of which 500 in Finland. The Swedish branch will lose 300 jobs and another 500 jobs will be lost in other countries. According to Raul Ennus, head of Tieto Java and Open Source unit, the dismissals are most likely not be applied on Tieto Estonia employing 100 people. The job reduction is expected to allow Tieto to reduce its overhead and become more price competitive in the IT consultancy market.
Tieto's main markets are Scandinavia and the Baltic countries, while the IT services group is also active in Central Europe, Russia and Germany.
Sources
Citation
Eurofound (2012), Tieto, Internal restructuring in European Union, factsheet number 73448, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/73448.
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