Caruna

Type
Merger/Acquisition
Country
Finland
Region
Manner-Suomi;
Location of affected unit(s)
Sector
Electricity
35 - Electricity, gas, steam and air conditioning supply
35.1 - Electric power generation, transmission and distribution
35.14 - Distribution of electricity
65 jobs
Number of planned job losses
Job loss
Announcement Date
12 January 2015
Employment effect (start)
Foreseen end date

Description

Finnish electricity distribution company Caruna has initiated negotiations to cut 65 jobs in order to revise the operative structures of the company that were inherited from previous management under Fortum then acquired by Caruna.

The negotiations have received criticism from the union PRO that suggests the restructuring is conducted for the sake of improved profits for investors rather than for the needs of the company.

Caruna employs 340 people in Finland and holds a 20 pc market share of Finland’s local electricity distribution.

Sources

  • 12 January 2015: lansivayla

Citation

Eurofound (2015), Caruna, Merger/Acquisition in Finland, factsheet number 78100, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/78100.