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 employer-employee negotiations to cut 320 jobs. The negotiations encompass production, logistics and the main offices in Helsinki and concern a total of 2,900 people all over Finland.
The cuts are due to the Russian import ban, the dramatic fall in the global prices of industrial products, and a decision made by the Finnish Competition and Customer Authority which restricts Valio's ability to compete freely on the Finnish market.
Valio is a major food producer in eastern Europe and employs a total of 4,400 people. The company has 15 production plants in Finland, two in Estonia and one logistics centre in Moscow, Russia.
ERM last reported on a restructuring in Valio in 2014.
Update 04-06-2015:
Valio lets go of 182 employees. In addition, many part-time employees will not be signing new contracts and some workers are retiring. In total, the workforce will be reduced by 326 full-time equivalents.
Eurofound (2015), Valio, Internal restructuring in Finland, factsheet number 79382, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/79382.