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.
The Swedish car retail company Hedin Automotive has finalised cooperation negotiations, which will lead to the dismissals of 70 employees in all 19 of its branches in Finland. The negotiations concerned 591 employees in all business units. New positions are also to be created as a result from the cooperation negotiations: they will be offered to current employees. The company does not intend to close any of its branches in Finland.
According to the company's managing director, the aim of the redundancies is to reorganise the company's operations and improve profitability. The managing director does not give further details of the reasons.
Hedin Mobility Group is one of the largest car retail companies in Europe. The company entered the Finnish market in May, 2022 when it bought up the car resale business from its Finnish competitor Kauppahuone Laakkonen Oy. In 2021, the company employed more than 5,000 people worldwide.
Eurofound (2022), Hedin Automotive, Internal restructuring in Finland, factsheet number 107568, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/107568.