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 Of Basic Metal And Fabricated Metal Products Manufacture Of Fabricated Metal Products, Except Machinery And Equipment 25 - Manufacture of fabricated metal products, except machinery and equipment
120 jobs Number of planned job losses
Announcement Date
26 August 2003
Employment effect (start)
1 October 2003
Foreseen end date
Description
The steel constructor PPTH has started cooperation talks with the all the personnel in order to make 120 employees redundant. The reason for this job reduction measure is the recession in the industry and office construction in North-Europe.
In October 2003, PPTH has ended the cooperation talks. As a result of these talks, the company decided to cut its work force by 120 jobs.
Sources
3 October 2003: Helsingin Sanomat
26 August 2003: Helsingin Sanomat
Citation
Eurofound (2003), PPTH, Internal restructuring in Finland, factsheet number 59664, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/59664.
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