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.
Finland, Russia, Norway, Sweden, Denmark, Estonia, Lithuania and Latvia
Sector
Construction Construction Of Buildings And Infrastructure Engineering Construction Of Buildings 41 - Construction of buildings
500 jobs Number of planned job losses
Announcement Date
28 April 2014
Employment effect (start)
5 May 2014
Foreseen end date
31 December 2014
Description
Lemminkäinen, a Finnish construction company, has announced its plans to cut 500 full time jobs in its international operations. Approximately half of the foreseen job cuts will be concentrated amongst its Finnish workforce (see ERM FS).
The company will initiate personnel negotiations in Finland on 5 May 2014. Negotiations will also be initiated in Russia, Norway, Sweden, Denmark, Estonia, Lithuania and Latvia, in accordance with local regulations. The present job cuts are part of the company’s ‘Deliver 2014’ programme, a restructuring plan which aims to improve the firm’s competitiveness by introducing lighter organisational structures. The company aims to save € 30 million annually in its fixed costs through this efficiency measures.
Lemminkäinen currently employs approximately 7,800 people, about 4,900 of which work in Finland.
Sources
28 April 2014: Lemminkäinen
Citation
Eurofound (2014), Lemminkäinen, Internal restructuring in World, factsheet number 77158, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/77158.
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