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 train operator VR Track has announced it will cut 130 jobs in Finland. The job cuts will mainly be among service personnel and will not affect other staff such as conductors or train drivers.
According to the source, VR Track will make the cuts through direct dismissals, early retirement and moving full-time employees to part-time contracts. The job cuts are a result increased ticket sales at ticket vending machines, which has reduced the need for sales and personnel staff. The source reports that statutory negotiations with employee representative will begin next week.
Updated 2014/06/25: After concluding negotiations, VR Track has announced that 123 employees will be laid off. VR will close ticket sales in eleven locations in Finland.
Eurofound (2014), VR Track, Bankruptcy in Finland, factsheet number 77009, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/77009.