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 state owned gambling and betting company Veikkaus has initiated employer-employee negotiations aiming to cut 140 positions. The negotiations include 960 employees and redundancies are due to the merger of the three gambling companies owned by the Finnish state; Veikkaus, Ray and Fintoto, at the end of 2016. The internal restructuring aims to harmonise the activities in the previously independent companies and to increase the cost-effectiveness and competitiveness of Veikkaus.
Updated, 12/06/2017;Following concluded employer-employee negotiations 129 jobs will be cut at Veikkaus. Between 65-70 employees will be directly dismissed, while the remaining redundancies will be carried out through the retirement of around 25 employees and non-extension as well as cancellation of a number of fixed-term contracts.
Eurofound (2017), Veikkaus, Merger/Acquisition in Finland, factsheet number 90720, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/90720.