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.
Financial Services Financial And Insurance Activities Insurance, Reinsurance And Pension Funding, Except Compulsory Social Security 65 - Insurance, reinsurance and pension funding, except compulsory social security
150 jobs Number of planned job losses
Announcement Date
21 October 2003
Employment effect (start)
Foreseen end date
Description
Pohjola has announced plans to cut its workforce by 150 employees. The cuts will be carried out due to the change in customer behaviour characterised by an increased use of tele- and internet services. 150 workers are affected in Finland.
19 January 2004.
The staff reduction at Pohjola will be carried out without redundancies. At the cooperation negotiations between employer and employee representatives concluded in December 2003, the exact figure for staff reduction was set at 144. The reduction will be carried out by means of natural attrition, retraining, job rearrangements and support packages. New posts at Pohjola have been taken up by 28 people and 116 people choose a support package. To those who chose a support package, Pohjola will also give assistance in preparing to apply for a new job and in adjusting to new circumstances in working life.
Sources
19 January 2004: Helsingin Sanomat
21 October 2003: Helsingin Sanomat
Citation
Eurofound (2003), Pohjola, Internal restructuring in Finland, factsheet number 59029, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/59029.
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