Type
Internal restructuring
Country
Finland
Region
Location of affected unit(s)
Sector
Financial Services
Financial And Insurance Activities

110 jobs
Number of planned job losses
Job loss
Announcement Date
1 August 2024
Employment effect (start)
12 September 2024
Foreseen end date

Description

The Finnish OP Financial Group initiated cooperation negotiations which may result in dismissals of 110 employees. The negotiations comprise of 1,390 employees in OPs retail banking functions.

According to OP, some changes in work descriptions can be conducted within the frame of existing employment contracts, while other positions will be terminated completely.

The bank has not communicated the negotiations to the public, but states that they are part of a long-term restructuring process following the reduction in the number of retail banks.

OP Financial Group employs 13,000 persons nationwide.


Sources

Citation

Eurofound (2024), OP Financial Group, Internal restructuring in Finland, factsheet number 202236, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/202236.