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 retail cooperative SOK is to cut 110 jobs at its Consumer Goods and Grocery trade operations. As announced, the restructuring is triggered by “the prolonged economic recession and the concurrent structural change in the trade sector which has especially shaken consumer goods sales".
The job reduction was announced with the conclusion of the statutory labour negotiations in the end of July 2014, after an initial estimate of a reduction of a total of 130 positions. The job losses primarily affect all employees and management staff involved in SOK's retail operations that employ approximately 530 people. In total, SOK has a workforce of approximately 9,000 people.
Last year, SOK cut 240 positions from its central organisation in a restructuring event which came into effect in July 2013.
Eurofound (2014), Suomen Osuuskauppojen Keskuskunta (SOK), Internal restructuring in Finland, factsheet number 77513, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/77513.