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.
Manufacturing Manufacture Of Wood And Paper Materials Manufacture Of Wood And Of Products Of Wood And Cork, Except Furniture; Manufacture Of Articles Of Straw And Plaiting Materials 16.2 - Manufacture of products of wood, cork, straw and plaiting materials
275 jobs Number of planned job losses
Announcement Date
11 April 2012
Employment effect (start)
Foreseen end date
31 December 2012
Description
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.
Sources
11 April 2012: YLE News
11 April 2012: Helsingin Sanomat
11 April 2012: Taloussanomat
29 June 2012: Taloussanomat
Citation
Eurofound (2012), UPM, Internal restructuring in Finland, factsheet number 73456, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/73456.
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