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.
Kesko, a Finnish wholesale and retail group (also known as K group), has announced redundancies of up to 370 employees. The company has started negotiations with employee representatives on the cuts.
Subject to Kesko's negotiations are 3000 employees. Excluded are jobs in Kesko's grocery stores and Citymarket supermarkets. The company seeks to save 100 million Euros and cites weak economy and rising costs as the reasons for its action.
Chairperson of the union PAM called the redundancies 'shocking'. She stated that Kesko's results have generally been good and emphasised the role of staff in trade activities. Kesko's union has also criticised the employer for announcing redundancies in several phases.
Eurofound (2012), Kesko, Internal restructuring in Finland, factsheet number 74328, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/74328.