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.
Shipbuilding company STX Finland announced plans to cut up to 700 FTE jobs by closing its Rauma shipyard and centralizing its operations to Turku.
As announced, 600 jobs will be lost after the closure of the site in Rauma and 100 ones due to the restructuring in the Turku site.
STX Finland's two shipyards in Rauma and Turku have been suffering from shortage of new orders. According to the sources, although the Rauma shipyard was in a better position, the company decided to move its activities to Turku and close down the Rauma site.
Employees at the Rauma site protested with a walk-out. The company and authorities have promised extra support for the Rauma region.
For information on previous restructurings see STX Finland-2010 and STX Finland-2009.
Updated, 05-11-2013: STX Finland has confirmed the closure of the Rauma shipyard. As a result, 620 employees will be dismissed from the Rauma site and 50 ones from the Turku site, where the company will continue its activities. Additionally, 80 workers will be redeployed in the Turku site.
Updated, 14-10-2014: Finland has applied for support by the European Globalisation Adjustment Fund (EGF) to help 565 former workers of the shipyards to find new jobs. Application is pending for final approval.
Eurofound (2013), STX Finland, Closure in Finland, factsheet number 75871, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/75871.