Internal restructuring
Location of affected unit(s)
Financial Services
Financial And Insurance Activities
Insurance, Reinsurance And Pension Funding, Except Compulsory Social Security
65 - Insurance, reinsurance and pension funding, except compulsory social security

244 jobs
Number of planned job losses
Job loss
Announcement Date
15 May 2014
Employment effect (start)
Foreseen end date


Finnish insurance group Local Tapiola (LähiTapiola) has announced that it will cut 244 jobs.

Initially, Local Tapiola had planned a job reduction of 400 however this was reduced after negotiations with employee representatives. The job reduction is part of a cost saving plan and the company hopes it will make the business more efficient. Local Tapiola plans to reduce costs by €20 million through this measure. According to the press release, the company will support workers who are made redundant to find alternative employment.

Last year, Tapiola and Local Insurance merged into one company and rebranded as Local Tapiola. The ERM has reported on previous restructuring events at Tapiola in 2011.


  • 15 May 2014: HBL.fi
  • 15 May 2014: LähiTapiola (press release)


Eurofound (2014), LocalTapiola, Internal restructuring in Finland, factsheet number 77061, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/77061.