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.
Finnish media company Sanoma has announced 54 job cuts at the Helsingin Sanomat editorial office.
As announced, the editorial office with a total workforce of 350 people supports the daily newspaper Helsingin Sanomat, the news section of the TV channel Nelonen (channel 4) and the free press Metro. The company started negotiations on the cuts on October 31, 2013 with an initial plan of cutting 70 jobs, but internal transfers reduced the number to 54.
As reported the job reduction measures are being implemented as a result of declining profitability. For a previous restructuring event see Sanoma-FI2012.
Eurofound (2014), Sanoma, Internal restructuring in Finland, factsheet number 76438, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/76438.