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.
Financial Services Financial And Insurance Activities Insurance, Reinsurance And Pension Funding, Except Compulsory Social Security 65 - Insurance, reinsurance and pension funding, except compulsory social security
180 jobs Number of planned job losses
Announcement Date
28 February 2018
Employment effect (start)
1 March 2018
Foreseen end date
1 March 2020
Description
At the turn of the year, Ilmarinen, which merged with Etera, has renewed its organisational structure. The new organisation structure will enter into force on March 1, 2018. During the reorganisation some of the employees are placed in new positions in the company. Relocation of persons who have completed their positions to alternative positions is still partly under way and approximately 65 permanent employment contracts will end this year. In addition, about 55 missions are expected to end during the next two years. Future reduction needs relate to the renewal of operational models, the phasing-in of information systems and the national income register, which will improve the processing of pay data in the future. In addition, over the next few years, some 50 people will have the opportunity to retire, which has contributed to reducing the need for reduction. At the start of the negotiations, it was estimated that up to 180 permanent posts would expire during the next two years.
Sources
28 February 2018: Ilmarinen website
Citation
Eurofound (2018), Ilmarinen, Merger/Acquisition in Finland, factsheet number 93461, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/93461.
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