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 dairy producer Valio has initiated statutory negotiations that could lead to the reduction of 210 jobs. The negotiations concern a total of 780 people in Helsinki. The cuts are due to the Russian import ban, the dramatic fall in the global prices of industrial products, and Finnish consumers' weakened purchasing power, according to the company.
Valio is a major food producer in Finland and employs a total of 4,600 people. The company has 15 production plants in Finland, two in Estonia and one logistics centre in Moscow, Russia.
Update 20-11-2014: The employer-employee negotiations have been concluded and the outcome of the negotiations was a reduction of 100 jobs from Valio's head office in Helsinki.
Eurofound (2014), Valio, Internal restructuring in Finland, factsheet number 77635, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/77635.