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.
Finnish manufacturer of indoor heating products, Rettig ICC, will cut 110 jobs when it closes its production site in Pietarsaari. Approximately 20 jobs in the sales and marketing department will remain in Finland.
According to the source, the company is moving its production operations to Poland as costs are lower there. The source reports that the site made €4 million in profit last year but that this restructuring is part of the company’s plans to remain competitive in the long term.
Approximately one in four of the redundancies will be organised through early retirement. Rettig ICC will also establish a programme to support employees in finding new employment opportunities through training and financial support.
Eurofound (2014), Rettig ICC, Offshoring/Delocalisation in Finland, factsheet number 76970, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/76970.