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.
On 18 June 2013, Finnish-Swedish pulp and paper manufacturer Stora Enso announced its plan to reduce its workforce by approximately 2,500 staff globally. In a bid to cut costs the company also plans to cut 650 jobs in Finland, 750 jobs in Sweden, 850 jobs in Europe, for instance in France (excluding Nordic countries), and 250 jobs outside Europe.
According to the company, the exact number of job cuts will depend on the outcome of co-determination negotiations and processes. Information on the timeline of the redundancies has yet to be published.
Stora Enso currently employs around 30,000 staff across 35 countries. The company, which has headquarters in Helsinki, carried out job reduction measures in 2012 (see here).
Eurofound (2013), Stora Enso, Internal restructuring in World, factsheet number 75523, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/75523.