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.
Helsinki, Tampereella, Oulussa, Kuopiossa, Joensuussa, Turussa, other locations
Sector
Financial Services Financial And Insurance Activities Financial Service Activities, Except Insurance And Pension Funding 64.1 - Monetary intermediation
278 jobs Number of planned job losses
Announcement Date
9 February 2015
Employment effect (start)
Foreseen end date
Description
Finnish financial service provider OP Cooperative has initiated employer-employee negotiations concerning 4,352 people with the aim of reducing the workforce by a maximum of 380 positions. The restructuring is motivated by the need to make the organization more efficient and adapt to changes in the financial sector's operating environment. The OP Financial Group employs a total of 12,360 people, of whom 5,470 are employed by OP Cooperative.
Update, 07-04-2015: OP Cooperative finished employer-employee negotiations on 30 March 2015. As a result, 278 jobs will be cut.
Sources
9 February 2015: karjalainen
9 February 2015: Company press release
30 March 2015: Company press release
Citation
Eurofound (2015), OP Cooperative , Internal restructuring in Finland, factsheet number 78293, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/78293.
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