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.
Engineering and technology firm Metso is to cut up to 175 jobs in Finland. 85 of the planned redundancies will affect the company’s Fabrics business. According to media reports, the filter fabrics production may be moved from Metso's plant in Tampere since the company wants to examine the benefits of concentrating filter fabric production to its existing plant in Portugal. In addition, up to 95 redundancies may take place in the power solutions business unit which employs 1,100 persons in Finland. The proposed job cuts are related to a savings plan which the company announced on April 23, 2013. A one-day walkout took place in Metso's Tampere plant in protest against the planned redundancies.
Updated, 17/06/2013 Metso has concluded negotiations and confirmed the loss of 148 jobs in Finland. In detail, 60 dismissals will take place in the Tampere fabrics unit (32 of them refer to reduction measures like retirement, termination of temporary contacts and internal transfers) and the production will move to Portugal by June 2014. In the power solutions unit 88 job cuts will take place as part of a global restructuring plan (70 jobs in Sweden and additional 10 in other countries). The plan is to be implemented immediately and concluded by the end of 2013.
Eurofound (2013), Metso, Internal restructuring in Finland, factsheet number 75369, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/75369.