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.
Componenta, a manufacturer of metal components, has announced redundancies of 100-120 employees in Finland. Most of the foreseen lay-offs in Finland will involve production personnel in four locations. The company will start negotiations with employee representatives on the foreseen cuts.
Componenta employs approximately 4,700 persons in Finland, Sweden, the Netherlands and Turkey, and plans to reduce a total of 550 positions in these countries. In Finland the company has approximately 1000 employees in five locations.
Componenta also issued a profit warning and noted that it plans to save 25 million Euros during 2013-2014. It does not foresee improved demand for its products until the Eurozone debt crisis is settled.
UPDATE 01-11-2012: Componenta has clarified that it plans to shut down one production line in Pietarsaari. The estimated net loss of jobs would be 80. Pietarsaari will make 100 of its 170 employees redundant, 20 of whom could be relocated.
Eurofound (2012), Componenta, Internal restructuring in Finland, factsheet number 74345, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/74345.