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.
Multinational communications technology provider Ericsson is closing down its modem production in Finland making 120 positions redundant. The restructuring will affect 90 employees at the facility in Turku and 30 employees in Oulu. The decision will affect Ericsson employees at other sites around the world. The decision is a result of the decreasing profits on modem products compared to more modern communication products.
Ericsson employs a total of 1,000 people in Finland. Globally the company employs over 115,000 people.
Update 12-11-2014: The negotiations were finished on 12 November 2014. The outcome was that Ericsson will cut 117 employees. The reductions will be carried out gradually, beginning the first quarter of 2015.
Eurofound (2014), Ericsson, Internal restructuring in Finland, factsheet number 77577, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/77577.