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.
Swedish metal and mining company, Sandvik has initiated cooperation negotiations to reduce the number of jobs at its factory in Tampere, Finland by 115 people. 95 of these redundancies would affect factory workers and the remaining 20 would concern white-collar workers. The company announces that it might also need to implement 90 day temporary lay-offs during next year.
Sandvik says the redundancies are due to a changes in skills needed. The industry is becoming increasingly electrified and automated, requiring the company to adapt. The redundancies are also said to be due to a weakened order book which reduces demand and workload.
According to the chief shop steward, the redundancies have come as a surprise to employees, but hopes that the number of redundancies will decrease during the change negotiations.
Sandvik is an international industrial metal and mining company with about 40,000 employees, of which 2,500 in Finland.
Eurofound (2023), Sandvik, Internal restructuring in Finland, factsheet number 200387, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/200387.