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 supplier of process industry machinery and systems Metso has announced that it will cut 240 jobs worldwide.
Up to 90 positions are expected to be cut in Finland. The conditions of the programme will be negotiated with employee representatives according to local regulations. The layoffs are part of a restructuring programme in certain parts of the company’s minerals equipment business. The planned changes will include organisational realignment and other efficiency measures.
Metso provides technologies and services for the aggregates, minerals processing and metals refining industries. The company employs over 17,000 people in close to 50 countries worldwide.
UPDATE 12/06/2024:
It has been announced that Metso completed negotiations with employee representatives. As a result, the company will cut its employment by about 220 positions globally instead of the initial 240, including 69 positions to be cut in Finland.
Eurofound (2024), Metso, Internal restructuring in World, factsheet number 201214, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/201214.