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 Basic Metals 24.52 - Casting of steel
314 jobs Number of planned job losses
Announcement Date
10 November 2005
Employment effect (start)
1 January 2006
Foreseen end date
31 December 2006
Description
On 10 November 2005 the steel manufacturer Outokumpu started codertemination negotiations with its employees in order to cut 300 jobs in Finland. The company launched earlier in fall 2005 a cost saving programme in order to cut the fixed costs by 10%.
On 4 January 2006 Outokumpu informed as a result of the codetermination negotiations that 314 employees would be made redundant in Finland.
Sources
5 January 2006: Helsingin Sanomat
10 November 2005: Helsingin Sanomat
Citation
Eurofound (2005), Outokumpu, Internal restructuring in Finland, factsheet number 62508, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/62508.
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