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.
Transportation / Storage Land, Water And Air Transportation Air Transport 51.1 - Passenger air transport
90 - 120 jobs Number of planned job losses
Announcement Date
29 September 2022
Employment effect (start)
21 November 2022
Foreseen end date
28 February 2023
Description
Finnish passenger airline company Finnair plans to cut 120 jobs out of 770 in management, executive, specialist and clerical positions in Finland. The restructuring is part of a broader plan to cut 200 jobs globally. According to Finnair’s press release, the company needs additional savings to restore its profitability after the changes in the operating environment, including the reduction in air traffic, Russia's invasion of Ukraine and the closure of Russian airspace. The job reductions will not affect flight crew or other operational staff. Those who lose their jobs will be offered social support to facilitate their re-employment. In addition, the company plans to reduce the size of its fleet.
Finnair is a Finnish passenger air transport company partially owned by the Finnish state. The company employs around 5,300 people worldwide.
Previous internal restructuring in Finland has been recorded in the ERM database, in 2022 200 job cuts were recorded as part of the global resturcturing connected to this case (Finnair-2022-FI), as well as in 2020 with 600 job cuts (Finnair-2021-FI).
Updated, 21/11/22
Finnair has finalised the cooperation negotiations, resulting in the dismissal 90 of managerial employees in Finland. Outside Finland, the company will cut 57 jobs. The dismissals will be implemented by the end of February 2023.
Sources
29 September 2022: Helsingin Sanomat (HS) (www.hs.fi)
Eurofound (2022), Finnair, Internal restructuring in Finland, factsheet number 107524, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/107524.
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