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.
Manufacturing Manufacture For Transport Equipment Manufacture Of Motor Vehicles, Trailers And Semi-Trailers 29.1 - Manufacture of motor vehicles
1,500 jobs Number of planned job losses
Announcement Date
1 July 2003
Employment effect (start)
Foreseen end date
Description
Valmet Automotive has started co-operation talks in order to lay off rest of the employees, i.e.: 800 persons. The previous negotiations took place in April resulting in 700 lay offs for about a year. This was due to the end of producing SAAB cars. This time the decrease of production concerns Porsche Boxter.In autumn the number of produced cars will drop from 70 to 50 cars/day. The production is being adapted to the demand. Besides the fixed term lay-offs also training possibilities will be examined.
Sources
1 July 2003: Helsingin Sanomat
Citation
Eurofound (2003), Valmet Automotive, Internal restructuring in Finland, factsheet number 59283, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/59283.
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