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 Wood And Paper Materials Manufacture Of Paper And Paper Products 17.12 - Manufacture of paper and paperboard
151 jobs Number of planned job losses
Announcement Date
27 October 2005
Employment effect (start)
Foreseen end date
1 June 2007
Description
On 27 October 2005 the pulp and paper manufacturer Stora Enso, issued a large restructuring plan. The company announced it would close some units in Finland, France, Sweden and USA. The restructuring plan effects at least 2,300 employees by direct dismissals. The plan will be carried out in order to improve profitability and decrease costs.
On 26 January 2006, as a result of the codetermination negotiations at the Varkaus unit Stora Enso informed it is to cut 151 jobs. The company will make 51 employees redundant. The rest of the cuts are carried out by ending fixed term jobs and pension arrangements.
Sources
26 January 2006: Helsingin Sanomat
Citation
Eurofound (2005), Stora Enso, Closure in Finland, factsheet number 62459, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/62459.
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