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.
Manufacturing Manufacturing Of Machinery And Equipment Manufacture Of Machinery And Equipment N.E.C. 28.95 - Manufacture Of Machinery For Paper And Paperboard Production
112 - 200 jobs Number of planned job losses
Announcement Date
5 September 2024
Employment effect (start)
22 October 2024
Foreseen end date
Description
Global engineering giant Valmet started restructuring negotiations on September 5. The estimated number of employee reductions is 200 positions. The exact details regarding the extent and targeting of the layoffs will be clarified during the negotiations.
The restructuring will affect Valmet’s Paper business line’s Board and Paper Mills business unit. The business unit employs around 1,300 people. The company aims to improve the profitability and competitiveness of its business operations.
Globally Valmet has in more than 19,000 employees. In Finland the company employs around 6,600 people.
add bold textUpdate 22/10/24
Valmet has concluded the restructuring negotiiations initiated in September. As a result of the change negotiations, the employment of 112 people will end. In addition, there will be fixed-term position terminations, retirements, and internal transfers to other positions within Valmet.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
