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.
Retail Retail Trade, Except Of Motor Vehicles And Motorcycles Retail Sale In Non-Specialised Stores 47.11 - Retail sale in non-specialised stores with food, beverages or tobacco predominating
90 jobs Number of planned job losses
Announcement Date
3 May 2012
Employment effect (start)
Foreseen end date
Description
SOK, a cooperative-based retail and wholesale group, has announced redundancies of up to 100 employees from its retail support operations. The company is starting negotiations with employee representatives on the proposed cuts.
SOK is the central organisation of regional cooperatives forming one of two main retail groups in Finland (S-ryhmä). The negotiations cover 730 employees and result from a subsidiary company Inez Partners being merged with the parent company SOK. The company expects to conclude negotiations in June. The redundancies do not impact store activities.
The timeline of restructuring has yet to be announced.
Updated, 20-06-2012: SOK has concluded negotiations and now reports 90 redundancies.
Sources
3 May 2012: SOK press release
3 May 2012: Taloussanomat
3 May 2012: YLE News
20 June 2012: Helsingin Sanomat
Citation
Eurofound (2012), SOK, Merger/Acquisition in Finland, factsheet number 73527, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/73527.
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