Restructuring events
European Restructuring Monitor (ERM)
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.
The mobile telephone components manufacturer Foxconn has closed its personnel negotations which have started in the beginning of March. The company is to end the manufacture of components in Finland. The move means that 295 of the company's 550 employees in Lahti will lose their jobs. In the beginning of negotiations 400 jobs were concerned. The restructuring plan will be accomplished by the end of June. According to Deputy CEO Timo Harju, the rest of personnel will continue in service business activities, for instance, in planning production projects for telephones. Foxconn, formerly Eimo, was taken over three years ago by the Taiwanese Hon Hai. A year ago, more than 1,500 people worked for the company. The previous round of extensive job cuts was announced last summer. Foxconn said in March that it would set up a large factory in Chennai, India, near the factories of Motorola and Nokia.
Eurofound (2006), Foxconn, Offshoring/Delocalisation in Finland, factsheet number 63109, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/63109.