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.
Foxconn, a Finnish producer of mobile phone covers, is to close down its plant in Salo, Finland, and lay off about 110 employees. The company has concluded mandatory negotiations which started with employee representatives in March.
Foxconn has been producing parts for mobile phone maker Nokia, which also owns a plant in the same location. After Nokia's decision to cease assembly work in Salo (Fact sheet 19831), Foxconn considers closing the business. The company is not closing the plant entirely yet as it wants to be able to resume production if the market situation improves.
As reported, Finland has applied for assistance from the European Globalisation Adjustment Fund (EGF).
Eurofound (2012), Foxconn, Internal restructuring in Finland, factsheet number 73689, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/73689.