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.
The Swedish mining and construction equipment group, Sandvik, has announced plans to cut 340 jobs at its site in Turku, Finland. The reduction measures are part of previously communicated plans to optimise the supply chain.
The production will continue but will be relocated to plants in Finland, China and the USA. The production in Turku is estimated to be closed by 2016. Out of the 340 redundancies, 140 will be offered relocation. It was previously indicated by the company that also Sandvik's site in Tampere would be subject to reductions; however, these plans have now been abandoned.
Sandvik employs around 47,000 people in 130 countries. The ERM reported on a restructuring case at one of Sandvik's Finnish sites in 2013.
Update 2015-09-11: Sandvik has reversed its decision to shut down its factory in Turku.
Eurofound (2015), Sandvik Mining and Constructuring, Offshoring/Delocalisation in Finland, factsheet number 83773, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/83773.