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. 28.3 - Manufacture Of Agricultural And Forestry Machinery
100 jobs Number of planned job losses
Announcement Date
10 October 2024
Employment effect (start)
21 November 2024
Foreseen end date
Description
The agricultural equipment manufacturer Agco is planning job cuts in Finland in its subsidiaries Agco Power and Valtra. Up to 100 positions may be eliminated: 60 in Äänekoski and 40 in Nokia. Only white-collar employees are within the scope of the negotiations, 500 of which work in Suolahti and 350 in Nokia.
The need for reductions is due to the reorganisation of Agco's global operations and seeking efficiency through AI and new technologies. The restructuring is a response to a drop in the market for manufacturing equipment that has taken place in 2024.
Agco is one of the largest manufacturing companies for agricultural equipment globally. In Finland, the company has 2,300 employees.
Eurofound (2024), Agco, Internal restructuring in Finland, factsheet number 201794, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/201794.
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.
