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. 28.92 - Manufacture of machinery for mining, quarrying and construction
101 jobs Number of planned job losses
Announcement Date
4 December 2013
Employment effect (start)
4 December 2013
Foreseen end date
1 January 2014
Description
manufacturer of mining and quarrying machinery Outotec is to cut 101 jobs in Finland by the end of 2013.
As announced, the cost-cutting restructuring plan envisages half of the job cuts to be implemented through natural attrition and non-extention of fixed-term contracts.
As reported, the company will provide financial support and training opportunities to the dismissed employees.
According to media reports, during 2014 there will be possibly additional temporary lay-offs depending on the company’s financial performance.
The announced job reduction measures are part of Outotec's worldwide restructuring plan envisaging 500 job cuts.
Sources
4 December 2013: Outotec (Press release)
4 December 2013: Taloussanomat
Citation
Eurofound (2013), Outotec, Internal restructuring in Finland, factsheet number 76326, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/76326.
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