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.
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.
Eurofound (2024), OP Financial Group, Internal restructuring in Finland, factsheet number 202236, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/202236.