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.
Finish telecommunications company Nokia is reducing staff in the framework of a plan for efficiency increase. The reorganisation will lead to cut 1,330 positions includes staff reductions of up to 350 in Finland on a total of about 6,000 employees, 460 in France on a total of 4,135 employees and 520 in Germany out of a total of 3,500 employees.
According to Nokia, the staff reductions are a result of the now completed incorporation of Alcatel-Lucent into the company’s structure. Nokia bought the company in November 2016 and has since been working on the merger. Since the process is complete, Nokia is now looking to streamline company structures and increase efficiency within the organisation. The announced staff reductions are expected to save up to €700 million until the end of 2020.
Nokia has reduced staff on EU or world level several times during the past years: in 2017 (310 job cuts worldwide) ; in 2016 (10,000 job cuts in the EU); in 2012 (10,000 job cuts worldwide) ; in September 2011 (3,500 job cuts worldwide) and in April 2011 (7,000 job cuts worldwide). Nokia employs roughly 103,000 people worldwide at the end of 2017.
Eurofound (2019), Nokia, Internal restructuring in European Union, factsheet number 96604, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/96604.
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