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 Basic Metal And Fabricated Metal Products Manufacture Of Basic Metals 24.1 - Manufacture of basic iron and steel and of ferro-alloys
150 - 200 jobs Number of planned job losses
Announcement Date
27 April 2012
Employment effect (start)
Foreseen end date
30 September 2012
Description
Manufacturing company Outokumpu has announced 150 to 200 redundancies affecting its stainless steel operations, mainly in Finland. The company will start negotiations with employee representatives in June.
The layoffs are expected to concern mainly the company's stainless steel production (General Stainless) in Tornio (Finland). Its plant in Terneuzen (the Netherlands) will be alsoaffected. Outokumpu's general Stainless business currently employs approximately 2,500 people, mainly in Finland.
Outokumpu cites the need to improve its efficiency and profitability as the reason for the layoffs. Previous rounds of dismissals were carried out in 2011 (see here). The company expects them to be concluded by the end of September 2012.
Sources
27 April 2012: Helsingin Sanomat
27 April 2012: Outokumpu press release
27 April 2012: YLE News
Citation
Eurofound (2012), Outokumpu, Internal restructuring in Finland, factsheet number 73494, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/73494.
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