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.
Finnish bakery Vaasan has initiated employer-employee negotiations with intentions of cutting up to 220 jobs. Vaasan will conduct a major internal restructuring that includes plans of investing €22 million in production development in Finland and Estonia in order to boost production and increase profitability. €14 million will be invested in Finland and €8 million in Estonia. As a part of the restructuring Vaasan plans to close bakeries in Finland. In total 670 employees will be affected by the restructuring, mainly employees working with production as well as logistics and supply. If the current plans are executed production in Tampere, Kuopio and Seinäjoki could be discontinued. In addition to permanent layoffs, temporary layoffs and outsourcing of operations could be relevant as well. As of October 2016, there is no information regarding when the employment effects will take place. In 2013, the ERM reported on the expansion of Vaasans activities in Estonia. The Vaasan group has a total of 2,700 employees.
Updated, 12/12 2016; Following concluded employer-employee negotiations 207 jobs will be cut as Vaasan closes bakeries in Tampere, Kuopio and Seinäjoki. Operations in Tampere will be discontinued by the end of August 2017 and operations in Kuopio and Seinäjoki will be discontinued by the end of 2017.
Eurofound (2016), Vaasan, Closure in Finland, factsheet number 88874, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/88874.
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