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.
Finnish consulting and engineering company Poyry has announced it will permanently lay off about 100 people in Finland at the conclusion of statutory negotiations with worker representatives. The remaining staff in Pöyry Industry Oy, Finland, may be laid off temporarily until further notice. In addition, temporary lay-offs may lead to permanent lay-offs, affecting a maximum of 150 people. Part of the capacity reduction will be implemented through pension arrangements.
In January 2009, Poyry started personnel negotiations to cut some 600 jobs in its Forest Industry and Construction Services business group units based in Finland. The planned cuts are due to the economic downturn sparked off by the global financial crisis. The clearly decreased demand and lower capacity utilisation is expected to significantly weaken the Group's profit before taxes for 2009. The earnings guidance for 2008 remains unchanged.
Poyry employs some 8,000 experts in 47 countries.
Eurofound (2009), Poyry, Internal restructuring in Finland, factsheet number 68146, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/68146.