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.
UPM, a Finnish forest company, has announced redundancies of up to 275 employees from three factories as well as central administration. The company has started negotiations with employee representatives on the cuts.
UPM is planning on closing or selling a sawmill in Kajaani and processing plants in Parkano (Aureskoski) and Heinola. These cuts may also trigger cuts in the central administration. The company cites poor profitability of the plants as the reason for the redundancies.
Updated, 29-06-2012: UPM has concluded negotiations. It will close sawmills in Parkano and Heinola, cutting 97 jobs. Another 42 positions will be cut from central administration. The Kajaani sawmill will be sold and its employees will be transferred to the new owner Pölkky.
Eurofound (2012), UPM, Internal restructuring in Finland, factsheet number 73456, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/73456.