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 Manufacture Of Food And Beverage Manufacture Of Food Products 10 - Manufacture of food products
326 jobs Number of planned job losses
Announcement Date
19 April 2015
Employment effect (start)
Foreseen end date
Description
Finnish dairy producer Valio has initiated employer-employee negotiations to cut 320 jobs. The negotiations encompass production, logistics and the main offices in Helsinki and concern a total of 2,900 people all over Finland.
The cuts are due to the Russian import ban, the dramatic fall in the global prices of industrial products, and a decision made by the Finnish Competition and Customer Authority which restricts Valio's ability to compete freely on the Finnish market.
Valio is a major food producer in eastern Europe and employs a total of 4,400 people. The company has 15 production plants in Finland, two in Estonia and one logistics centre in Moscow, Russia.
ERM last reported on a restructuring in Valio in 2014.
Update 04-06-2015:
Valio lets go of 182 employees. In addition, many part-time employees will not be signing new contracts and some workers are retiring. In total, the workforce will be reduced by 326 full-time equivalents.
Sources
19 April 2015: Helsingin Sanomat
4 June 2015: Svenska YLE
Citation
Eurofound (2015), Valio, Internal restructuring in Finland, factsheet number 79382, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/79382.
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