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.
Manufacturing Manufacturing Of Machinery And Equipment Manufacture Of Machinery And Equipment N.E.C. 28.3 - Manufacture of agricultural and forestry machinery
137 jobs Number of planned job losses
Announcement Date
3 October 2014
Employment effect (start)
Foreseen end date
Description
Finish tractor manufacturer Valtra has initiated employer-employee negotiations in Äänekoski. The company aims to reduce its workforce by 150 positions. The lay-offs are a result of a poor market situation with declining demand for Valtra's products. The demand for agricultural machinery has been weakened by the fall of the price of gain and problems on the milk market.
Valtra employs 2,100 people globally, and its production facility in Finland employs a total of 900 people.
Update, 14-11-2014: The negotiations were concluded on Friday 14 November 2014. The outcome was a reduction of 137 jobs.
Sources
3 October 2014: Helsingin Sanomat
14 November 2014: Yle Uutiset
Citation
Eurofound (2014), Valtra, Internal restructuring in Finland, factsheet number 77737, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/77737.
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