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.
Public Administration And Defence Public Administration And Defence; Compulsory Social Security Provision Of Services To The Community As A Whole 84.22 - Defence activities
126 jobs Number of planned job losses
Announcement Date
6 June 2014
Employment effect (start)
6 June 2014
Foreseen end date
Description
The Finnish Defence forces have announced that they will cut 126 jobs in an effort to reduce costs. After concluding negotiations, the Finnish Defence forces announced that they needed to reduce staff by 2,100, of which 1,430 are civilian jobs. According to the source, there will be 126 direct dismissals, and the remaining job cuts will be through natural attrition and redeployment. A timeline for these cuts is not yet available.
The source reports that the Finnish Defence forces also adopted a new model of redundancy pay which 172 employees have accepted. Besides these dismissals, 1,500 employees will be relocated and 2,000 will be redeployed.
According to the source, the dismissals and replacement scheme are part of a cost savings package, it is estimated that the savings will amount to €90 million. The ERM has reported on previous restructuring events at Finnish Defence in 2005and 2006.
Sources
6 June 2014: Svenska YLE
Citation
Eurofound (2014), Finnish Defence, Internal restructuring in Finland, factsheet number 77143, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/77143.
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