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 Trade, Except Of Motor Vehicles And Motorcycles 47 - Retail trade, except of motor vehicles and motorcycles
370 jobs Number of planned job losses
Announcement Date
8 January 2004
Employment effect (start)
Foreseen end date
1 December 2005
Description
Due to a merger of Kesko Agro and K-maatalousyhtiöt, cooperation procedures will be started.
The cooperation procedure concerns Kesko Agro Ltd's agricultural business in Finland and concerns some 120 people. At the same time, K-maatalousyhtiöt Oy also starts a cooperation procedure concerning some 250 employees. The underlying factor of these procedures is the sales developments of both companies that fell short of expected. The objective is to find means of enhancing competitiveness and achieving cost savings.
Sources
8 January 2004: Helsingin Sanomat
Citation
Eurofound (2004), Kesko, Merger/Acquisition in Finland, factsheet number 59156, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/59156.
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