Restructuring events
European Restructuring Monitor (ERM)
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.
Aalto University in Esbo, Finland, has initiated employer-employee negotiations aiming to cut up to 350 jobs. Negotiations concern all employees except for professors, in total 4100 employees are concerned by the negotiations. The reason for the internal restructuring is reduced funding from the Finnish government. Grants have been lowered by €66 million for the period 2016-2018 . The university board is to save €37 million, €17 million is to be saved by lowering costs for facilities and acquisitions and €17 million through reduction of staff. More external grants are being sought as well.
The ERM has reported on previous internal restructuring at Aalto University in 2014 when 124 jobs were cut.
The Finnish government is in total reducing the grants to the Finnish universities by €600 million during 2016-2020, leading to redundancies at many of the 14 Finnish universities. The ERM has reported on ongoing employer-employee negotiations at the University of Helsinki, Åbo Akademi, the University of Eastern Finland and Lappeenranta Univeristy of Technology.
Update 3/2/2016:Following concluded employer-employee negotiations a total of 320 job positions will be cut. 190 employees will be directly dismissed and the remaining 130 positions will be cut by retirements and non-renewal of current contracts.
Eurofound (2015), Aalto University, Internal restructuring in Finland, factsheet number 86005, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/86005.