VR

Type
Internal restructuring
Country
Finland
Region
Manner-Suomi;
Location of affected unit(s)
Sector
Transportation / Storage
Land, Water And Air Transportation
Land Transport And Transport Via Pipelines
49.10 - Passenger rail transport, interurban
100 jobs
Number of planned job losses
Job loss
Announcement Date
27 May 2015
Employment effect (start)
Foreseen end date

Description

Finnish rail group VR has initiated employer-employee negations concerning 300 people in stock maintenance. VR aims to cut a maximum of 100 jobs. The restructuring is motivated by a decrease in revenue during the first quarter of 2015. The decrease in revenue was affected by, among other factors, increased competition from public infrastructure and transportation actors.

The VR Group employs a total of 9,500 people in Finland. In 2014 ERM reported on the closure of VR Track, part of the VR Group, due to bankruptcy. The group also conducted an internal restructuring that led to the loss of 98 jobs in 2012. 

Sources

  • 27 May 2015: VR-Group Press Release

Citation

Eurofound (2015), VR, Internal restructuring in Finland, factsheet number 79427, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/79427.