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.
Road transport company Suomen Kiitoautot, subsidiary of DB Schenker, has announced redundancies of up to 50 employees. The company has started negotiations with employee representatives on the proposed cuts.
Suomen Kiitoautot was established in 1959 and remained a family-owned company until the beginning of 2012, when it was acquired by DB Schenker (Schenker East). The company operates mainly in eastern Finland and cites declining demand as well as synergies with its parent company as reasons for the proposed cuts.
In November 2012, the company laid off 9 employees permanently and 40 temporarily.
Eurofound (2013), Suomen Kiitoautot, Merger/Acquisition in Finland, factsheet number 74834, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/74834.