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.
Componenta, a Finnish metalworking company, is to move its machine shop operations from Pietarsaari (Jakobstad) to Sweden and lay off 60 workers.
Componenta originally announced possible lay-offs of up to 120 workers from both its machine shop and foundry. It cited poor profitability of the unit as the reason for the redundancies. The company started mandatory negotiations with employee representatives regarding the proposed cuts in February. After negotiations, it decided to move the machine shop to Främmestad (Sweden) resulting in up to 60 redundancies.
Employee representative described worker reactions as a "complete shock," and workers organised a two-day walk-out in February. Director of the local economic development office stated that other metalworking jobs cannot readily be found for all redundant workers of Componenta.
Eurofound (2011), Componenta, Offshoring/Delocalisation in Finland, factsheet number 71552, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/71552.