Type
Internal restructuring
Country
Finland
Region
Manner-Suomi;
Location of affected unit(s)
Finland-wide, and specifically Raisio, Espoo, Vantaa, Tampere, Helsinki
Sector
Retail
Wholesale And Retail Trade And Repair Of Motor Vehicles And Motorcycles
Sale Of Motor Vehicles
45.11 - Sale of cars and light motor vehicles

106 jobs
Number of planned job losses
Job loss
Announcement Date
2 September 2014
Employment effect (start)
Foreseen end date

Description

Veho Group subsidiary, Finish car dealership chain Veho Autolat announced plans to cut 106 jobs. According to the sources, the restructuring is due to a long term decline in profits and the job cuts will primarily affect retail, service and administration personnel. As announced, the company will next week start statutory negotiations that refer to approximately 430 employees, almost half of its total workforce. As announced, company sites in Helsinki metropolitan area, Tampere and Raisio may be affected by the job reduction measure.

Veho Autolat is the main Veho Group retail business in Finland. Veho Group has a total of 2,212 employees and operates in Finland, Sweden and the Baltic countries. In 2012 the company had a turnover of €1,060 million. For a previously reported restructuring event see Veho-2009


Sources

  • 2 September 2014: Kauppalehti
  • 2 September 2014: Uutisaalto
  • 2 September 2014: Talouselämä

Citation

Eurofound (2014), Veho Autotalot, Internal restructuring in Finland, factsheet number 77517, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/77517.