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.
Sweden, Finland, other European countries, other countries
Sector
Manufacturing Manufacture Of Wood And Paper Materials Manufacture Of Paper And Paper Products 17 - Manufacture of paper and paper products
2,500 jobs Number of planned job losses
Announcement Date
18 June 2013
Employment effect (start)
Foreseen end date
Description
On 18 June 2013, Finnish-Swedish pulp and paper manufacturer Stora Enso announced its plan to reduce its workforce by approximately 2,500 staff globally. In a bid to cut costs the company also plans to cut 650 jobs in Finland, 750 jobs in Sweden, 850 jobs in Europe, for instance in France (excluding Nordic countries), and 250 jobs outside Europe.
According to the company, the exact number of job cuts will depend on the outcome of co-determination negotiations and processes. Information on the timeline of the redundancies has yet to be published.
Stora Enso currently employs around 30,000 staff across 35 countries. The company, which has headquarters in Helsinki, carried out job reduction measures in 2012 (see here).
Sources
18 June 2013: ORF
18 June 2013: Bloomberg business week
18 June 2013: Stora Enso (press release)
18 June 2013: The Wall Street Journal
Citation
Eurofound (2013), Stora Enso, Internal restructuring in World, factsheet number 75523, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/75523.
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