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.
Financial Services Financial And Insurance Activities Financial Service Activities, Except Insurance And Pension Funding 64 - Financial service activities, except insurance and pension funding
300 - 412 jobs Number of planned job losses
Announcement Date
2 April 2014
Employment effect (start)
2 April 2014
Foreseen end date
31 December 2015
Description
The Nordic Bank Nordea is planning to cut between 250 and 300 jobs in Finland by the end of 2015.
According to Nordea, the job reduction will be reached through natural attrition. Nordea is hoping to reduce costs by €900 million by the end of 2015 through its restrucutring process.
The ERM has reported on previous internal restructuring cases at Nordea, Finland, in 2004, 2009 and 2011.
Updated 2014/06/25: The source reports that the employees of Nordea in Finland held strike action in June, closing down the Nordea offices on June 13. Nordea has announced that 300 employees will be offered early retirement. Accoring to the source, the bank will also hold negotiations regarding the reduction of an additional 112 employees. The reduction will therefore be larger than previously announced.
Sources
16 June 2014: Veckans Affärer
2 April 2014: YLE
Citation
Eurofound (2014), Nordea, Internal restructuring in Finland, factsheet number 76781, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/76781.
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