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.
Raisio, Espoo, Vantaa, Tampere, Helsinki, other locations
Sector
Wholesale / Retail Retail trade Retail sale of motor vehicles, motorcycles and related parts and accessories 47.81 - Retail sale of motor vehicles
106 jobs Number of planned job losses
Announcement Date
2 September 2014
Employment effect (start)
Foreseen end date
Description
Veho Group subsidiary, Finnish car dealership chain Veho Autolat announced plans to cut 106 jobs. According to the sources, the restructuring is due to a long term decline in profits and the job cuts will primarily affect retail, service and administration personnel. As announced, the company will next week start statutory negotiations that refer to approximately 430 employees, almost half of its total workforce. As announced, company sites in Helsinki metropolitan area, Tampere and Raisio may be affected by the job reduction measure.
Veho Autolat is the main Veho Group retail business in Finland. Veho Group has a total of 2,212 employees and operates in Finland, Sweden and the Baltic countries. In 2012 the company had a turnover of €1,060 million. For a previously reported restructuring event see Veho-2009.
Sources
2 September 2014: Kauppalehti
2 September 2014: Uutisaalto
2 September 2014: Talouselämä
Citation
Eurofound (2014), Veho Autotalot, Internal restructuring in Finland, factsheet number 77517, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/77517.
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