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 construction and infrastructure group YIT has announced that it will cut up to 250 jobs worldwide in the near future. According to the company, the dismissals aim to improve the company’s competitiveness and organisational efficiency.
The restructuring programme is to affect up to 200 jobs in Finland, and up to 250 in the whole group. The programme will be implemented in all of YIT's operations and operating countries, excluding Sweden and Russia. The company has already started employer-employees negotiations in Finland. The source also reports that the programme will not concern blue-collar at construction sites nor white-collar employees in production-related jobs.
YIT is the largest Finnish urban developer and construction company. The group operates in ten countries (Finland, Russia, Sweden, Norway, Estonia, Latvia, Lithuania, the Czech Republic, Slovakia and Poland), employing about 7,400 staff.
Eurofound (2021), YIT, Internal restructuring in World, factsheet number 105166, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/105166.