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.
Retail Wholesale Trade, Except Of Motor Vehicles And Motorcycles Wholesale On A Fee Or Contract Basis 46.19 - Agents involved in the sale of a variety of goods
110 jobs Number of planned job losses
Announcement Date
1 September 2014
Employment effect (start)
1 September 2014
Foreseen end date
Description
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.
Sources
1 September 2014: SOK (Press Release)
1 September 2014: Yle Uutiset
Citation
Eurofound (2014), Suomen Osuuskauppojen Keskuskunta (SOK), Internal restructuring in Finland, factsheet number 77513, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/77513.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
