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.
Oras, a manufacturer of faucets, has announced that it will dismiss 75 employees from its plant in Rauma, Finland. The company has concluded negotiations (started in March) with employee representatives on the cuts.
Oras cites tightening competition and more flexible use of workforce as reasons for its decision. The company intends to use temporary workers during peak demand periods. Lay-offs will influence both production (61) and office (14) personnel. Oras's production in Poland will not be affected.
The timeline of the restructuring is yet to be announced.
Eurofound (2012), Oras, Internal restructuring in Finland, factsheet number 73526, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/73526.