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.
A Finnish consulting firm Pöyry has announced that it will reduce its workforce in Finland by about 400 persons.
Pöyry, originally an engineering specialist in paper industry, offers a wide range consulting services in various sectors, e.g., energy, paper, transportation. According to its web page, Pöyry has 7000 experts in about 50 countries. As some of the sectors where Pöyry has been active had declined in Finland, the company previously announced a review of its 2500 Finnish staff. It later reported that 250-350 of its currently active workforce will be cut. In addition, it would review the situation of 200 employees who had been laid off temporarily. Mandatory negotiations with employee representatives have now been concluded and the number of permanent cuts is reported to be 400. These include 270 currently active workers and another 130 workers who had already been laid off temporarily.
Pöyry expects to complete this restructuring by the end of the second quarter 2011. It also warns that further cuts may be necessary later.
Eurofound (2010), Pöyry, Internal restructuring in Finland, factsheet number 71084, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/71084.