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 Manufacturing Of Machinery And Equipment Manufacture Of Machinery And Equipment N.E.C. 28 - Manufacture of machinery and equipment n.e.c.
150 jobs Number of planned job losses
Announcement Date
12 October 2010
Employment effect (start)
Foreseen end date
Description
Having completed mandatory negotiations with its staff, Finnish manufacturing company Moventas is to reduce 150 jobs from its Jyväskylä unit.
Moventas produces gear systems for wind turbines. The company cites sluggish investment in wind energy as the reason for the cuts. There are 90 direct dismissals, although some dismissed employees could move to the company's Karkkila plant. There have also been temporary layoffs in Jyväskylä plant, where 540 employees will remain after the cuts.
Eurofound (2010), Moventas, Internal restructuring in Finland, factsheet number 71035, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/71035.
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