Normet

Type
Internal restructuring
Country
Finland
Region
Manner-Suomi; Pohjois- ja Itä-Suomi; Pohjois-Savo
Location of affected unit(s)
Iisalmi
Sector
Manufacturing
(28) Manufacture of machinery and equipment
28.9 - Manufacture of other special-purpose machinery
28.92 - Manufacture of machinery for mining, quarrying and construction
50 jobs
Number of planned job losses
Job loss
Announcement Date
9 December 2013
Employment effect (start)
1 January 2014
Foreseen end date

Description

Manufacturer of mining and tunnelling equipment Normet is to cut 50 jobs at its factory in Iisalmi.

According to media reports, the restructuring is due to low demand for its products. As reported, in 2013 Normet had temporarily laid off 260 workers.

Apart from Finland, Normet has also production facilities in Chile and Sweden.

Sources

  • 9 December 2013: Savon Sanomat
  • 9 December 2013: YLE News

Citation

Eurofound (2013), Normet, Internal restructuring in Finland, factsheet number 76328, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/76328.