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 Rubber And Plastic Products And Other Non-Metallic Mineral Products Manufacture Of Rubber And Plastic Products 22.21 - Manufacture of plastic plates, sheets, tubes and profiles
450 jobs Number of planned job losses
Announcement Date
26 November 2015
Employment effect (start)
1 January 2016
Foreseen end date
31 December 2016
Description
Finnish plastic pipe and well manufacturer Uponor Infra is cutting 450 positions on EU level including 170 jobs at its factory in Vaasa in Finland and moving production of pipes and wells toits factory inNastola (Finland). The aim of the restructuring is to achieve profitable growth, greater agility and cost reduction. "Continued weak demand in Europe's building and civil engineering markets, declining sales and persistently high costs have eroded our profits in Europe", said Uponor CEO Jyri Luomakoski who add that he can't say exactly where the position will be cut across Europe. In its press release, Uponor explains to have initiated an information and consultation process according to national law.
Sources
26 November 2015: Uponor (Press Release)
2 December 2015: Plastic News Europe (PNE)
27 November 2015: Helsingin Sanomat
Citation
Eurofound (2015), Uponor, Internal restructuring in European Union, factsheet number 86017, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/86017.
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