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 Other Transport Equipment 30 - Manufacture of other transport equipment
315 jobs Number of planned job losses
Announcement Date
9 November 2004
Employment effect (start)
15 November 2004
Foreseen end date
31 January 2005
Description
Aker Yards the shipyards company will start cooperation negotiations with its personnel. The number of job cuts in form of a direct dismissals is estimated to be around 700. The restructuring measures are due to the merger of the Finnish Kvaerner Masa-Yards and Aker Finnyards. On 18 January 2005 Aker Finnyards informed to cut its personnel by 315 as a result of the cooperation talks. According to the company the volume of orders has increased since the start of the negotiations leading to a lower number of job losses.
Sources
18 January 2005: Helsingin Sanomat
9 November 2004: Helsingin Sanomat
Citation
Eurofound (2004), Aker Yards, Merger/Acquisition in Finland, factsheet number 60745, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/60745.
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