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.
Uponor, a Finnish plastic pipe maker, announced that is to cut over 200 jobs by the end of 2009. The job losses are part of a large cost reduction programme in order to cut costs and cope with a difficult building and construction market.
The programme targets structural cost reductions in the range of EUR 30 million, effective in 2009. The programme is preliminarily estimated to generate a one-time cost impact of about EUR 10 million, which will be split between 2008 and 2009. The above mentioned savings programme is designed to secure the company's performance in the expected weak market environment.
Uponor has subsidiaries in 22 countries and 17 factories in 9 countries, employing some 4,700 employees.
Eurofound (2008), Uponor, Internal restructuring in World, factsheet number 66956, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/66956.