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.
Manufacturing Manufacturing Of Furniture And Other Manufacturing Manufacture Of Furniture 31 - Manufacture of furniture
150 jobs Number of planned job losses
Announcement Date
12 March 2020
Employment effect (start)
1 September 2020
Foreseen end date
Description
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.
Sources
12 March 2020: Isku [press release] (www.isku.com)
Eurofound (2020), Isku, Internal restructuring in Finland, factsheet number 100044, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/100044.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
