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.
Finnish technology company Wärtsilä has announced the dismissal of 109 employees: 75 employees will be dismissed in Vaasa, 12 in Turku, and 22 in Helsinki. Most of them are white-collar employees who work in the company’s business division Marine Business that produces marine technology; 21 of the dismissed employees work in global support functions.
According to the company, these dismissals are connected to a major organisational restructuring. Indeed, Wärtsilä announced its plan to split the division Marine Business into three units in March 2020. The new units will start their operations at the beginning of July 2020.
Wärtsilä is a Finnish technology company that operates globally both in the energy and marine market. The company employs approximately 3,800 people in Finland. The company exports 99% of its production.
Eurofound (2020), Wärtsilä , Internal restructuring in Finland, factsheet number 100938, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/100938.