Internal restructuring
Location of affected unit(s)
Financial Services
Financial And Insurance Activities
Financial Service Activities, Except Insurance And Pension Funding
64 - Financial service activities, except insurance and pension funding

460 jobs
Number of planned job losses
Job loss
190 jobs
Number of planned job creations
Job creation
Announcement Date
12 November 2019
Employment effect (start)
Foreseen end date
31 December 2020


Cooperative bank OP Financial Group announced its plans to centralise the internal services of two support functions into other central functions. The decision is under efforts of modernisation to increase the process efficiency, thus affecting 460 employees to be dismissed. At the same time, 190 new job positions are planned to be created in support of the prospected changes.

The business contraction is part of a wider restructuring process that aims at adopting self-directing practices in the central business unit of the company. The restructuring process plans savings amounting to €18 million. As part of this process, the company announced in October 2019 the collective dismissal of other 300 job positions, with the creation of 190 new job positions in the central business unit.


  • 12 November 2019: Helsingin Sanomat (www.hs.fi)
  • 12 November 2019: OP Financial Group (Press Release) (www.op.fi)
  • 11 November 2019: YLE (yle.fi)


Eurofound (2019), OP Financial Group , Internal restructuring in Finland, factsheet number 99060, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/99060.