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 Finland-based energy company Fortum has announced that it will cut 130 jobs worldwide. The layoffs are part of the efficiency programme launched in November 2023.
The company is to reduce employment in its Customer Solutions business unit and IT unit. The sources report that about 1,080 employees in Finland, Sweden, Norway and Poland are within the scope of the collective consultation process. According to a preliminary estimate, the company plans to cut up to 130 positions. The efficiency programme aims to implement the company’s new structure and operating model as well as improve profitability and ensure competitiveness. Fortum is to reduce its annual costs by €100 million gradually until the end of 2025.
Headquartered in Finland, Fortum operates in Finland, Sweden, Norway, Denmark and Poland, employing about 5,000 employees. Fortum’s activities include production and distribution of electricity and heating, management and maintenance of power plants and other energy-related services. Fortum is Europe's third-largest producer of carbon-free electricity, Europe's second-largest producer of nuclear power and one of the largest gas suppliers.
Eurofound (2024), Fortum, Internal restructuring in World, factsheet number 200714, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/200714.