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.
Retail Retail Trade, Except Of Motor Vehicles And Motorcycles Retail Sale Of Other Household Equipment In Specialised Stores 47.52 - Retail Sale Of Hardware, Paints And Glass In Specialised Stores
105 jobs Number of planned job losses
Announcement Date
21 October 2024
Employment effect (start)
4 November 2024
Foreseen end date
Description
Finnish paint and coatings retailer RTV-Yhtymä has announced restructuring negotiations affecting staff of 15 locations. The company plans dismissals of up to 103 people, while the planned changes in terms of employment will affect up to 12 people. The negotiations are expected to last two weeks.
The internal restructuring follows a court ordered debt restructuring RTV-Yhtymä is undergoing. The company likely has to close down some of its stores. The locations undergoing restructuring negotiations are in Forssa, Järvelä, Järvenpää, Kaarina, Karjaa, Kouvola, Mäntsälä, Nokia, Nummela, Perniö, Salo, Savonlinna Varkaus as well as one store in Vantaa and one in Helsinki.
RTV-Yhtymä had 785 employees at the end of 2023.
Updated, 2024-11-13
RTV-Yhtymä will close 15 stores and make 93 employees redundant as a result of the collective consultation process.
Eurofound (2024), RTV-Yhtymä, Internal restructuring in Finland, factsheet number 201803, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/201803.
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.
