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 For Transport Equipment Manufacture Of Other Transport Equipment 30 - Manufacture of other transport equipment
183 jobs Number of planned job losses
Announcement Date
21 April 2016
Employment effect (start)
Foreseen end date
Description
Finnish manufacturer of advanced technology for the shipping and energy sector Wärtsilä has initiated employer-employee negotiations aiming to cut 540 jobs globally of which 270 jobs will be cut in Finland. The core product of Wärtsilä is large combustion engines for cruise ships and ferries. The company has suggested that increasing competition is the main reason for the redundancies. In Finland R&D activities will be streamlined to focus primarily on engine related actives.
Wärtsilä has approximately 19 000 employees in 17 countries. Two main branches affected by the redundancies are Wärtsilä Marine Solutions and Wärtsilä Energy Solutions. Marine solutions employs 6681 individuals and Energy Solutions has 958 employees globally.
The ERM has previously reported on redundancies at Wärtsilä in Finland in 2015, and globally in 2015as well.
Update 16/6/2016:Following concluded employer-employee negotiations, Wärtsilä will lay off a total of 183 people. Initially the internal restructuring was anticipated to lead to 270 redundancies. 100 of the lay offs concern blue-collar workers and 83 white-collar positions are made redundant. Most of the cuts will be in Vaasa where a total of 172 positions are being made redundant. In addition some employees will be temporarily laid off for a maximum of 63 days. Out of the 183 redundancies, 160 jobs will be cut within Wärtsilä Marine Solutions and 23 within Wärtsilä Energy Solutions.
Sources
21 April 2016: Svenska YLE
Citation
Eurofound (2016), Wärtsilä, Internal restructuring in Finland, factsheet number 87471, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/87471.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
