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 retailing conglomerate Kesko starts statutory negotiations concerning 230 jobs. The negotiations primarily concern the company’s hardware and grocery store operations. The need to restructure is brought on by the Russian import ban and increased competition.
Kesko employs a total of 2,800 people in Finland and has a global operation spanning 7 countries and 19,500 employees.
Kesko has conducted earlier restructurings in 2014 and 2012.
Update, 28-11-2014: The outcome of the negotiations was that 227 positions will be cut. Of these cuts, 193 redundancies are from the merger of K-city market and Ruokakesko, and an additional 34 positions will be cut from the daughter company VW-auto.
Eurofound (2014), Kesko, Internal restructuring in Finland, factsheet number 77674, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/77674.