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.
Isku, a Finnish furniture manufacturer, has announced the dismissal of 150 employees. The dismissals cover all of the 20 units of the company. However, the Lahti production unit will be affected the most as approximately 100 employees of the unit will be dismissed. The dismissals affect both white-collar and blue-collar employees. The company will also temporarily lay off some of its personnel. The restructuring process plans savings amounting to €10 million. Restructuring is needed since the rules applied by public actors to procurement have changed and the company has recently lost an important tender. According to the company, public actors prioritise price over sustainability and domestic production in the tendering process which has decreased the demand for the company's products. Isku plans to centralize all production in Lahti to one factory on Mukkulankatu.
Eurofound (2020), Isku, Internal restructuring in Finland, factsheet number 100044, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/100044.