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.
Wipak, a producer of packaging materials, has announced redundancies affecting up to 90 employees at its plant in Nastola. The company has started negotiations on the cuts with employee representatives. It is also negotiating to reduce up to 10 of its 70 employees in Valkeakoski. In 2012, Wipak closed its factory in Eura and cut 52 jobs.
Reportedly, the restructuring is blamed on the changing market in Europe (rising costs and low demand) and the need to save up to 5 million euros annually.
Wipak employs approximately 450 persons in Nastola and produces packaging materials for the food and health care industries.
Eurofound (2013), Wipak, Internal restructuring in Finland, factsheet number 75433, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/75433.