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.
HOK-Elanto Liiketoiminta, part of Finnish retail chain and service sector company S Group's Helsinki-based cooperative, HOK-Elanto, is planning job cuts in its restaurant business. A total of 505 restaurant staff are within the scope of the collective consultation process, including both shift managers and employees. Up to 140 people may be affected by the planned measures, which may include moving employees to part-time hours, redundancies, or material changes to employment contracts. Excluded from the change negotiations are chefs, kitchen managers, restaurant managers, and business managers. No restaurants are planned to be closed.
The restructuring is a reaction to reduced profitability in the restaurant business. HOK-Elanto states in their press release that the sector is heavily affected by the recession, increased teleworking, and a decline in tourism.
In addition, nine employees are within the scope of a collective consultation process to be initiated in the HOK-Elanto restaurants operating at the Prisma centre in Järvenpää. These negotiations are due to changes in premises and the expiry of existing leases. HOK-Elanto plans to reopen the Prisma centre restaurant in the summer of 2025.
HOK-Elanto's restaurant business employs around 660 people and the HOK-Elanto Group as a whole employs around 6800 people.
Eurofound (2024), HOK-Elanto Liiketoiminta, Internal restructuring in Finland, factsheet number 201647, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/201647.