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.
Retail Retail Trade, Except Of Motor Vehicles And Motorcycles Retail Sale In Non-Specialised Stores 47.1 - Retail sale in non-specialised stores
50 jobs Number of planned job losses
Announcement Date
4 February 2014
Employment effect (start)
1 March 2014
Foreseen end date
1 March 2016
Description
The department store chain Stockmann will cut 50 jobs in Latvia and 200 jobs in Finland within the next two years. Stockmann plans to reorganize its warehouse system centralising its operations at a new distribution centre in Tuusula, some 30 km north of Helsinki. Distribution in the Baltic countries will be handled from Tuusula as of 2017 resulting in the loss of the 50 Latvian jobs.
Stockmann has nine department stores in Finland and the Baltic countries, as well as seven in Russia.
Sources
4 February 2014: www.db.lv
Citation
Eurofound (2014), Stockmann, Internal restructuring in Latvia, factsheet number 76574, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/76574.
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