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.
Lappeenranta University of Technology (LUT) is to cut 130 positions. The cutbacks are part of a new savings scheme (€8.5 million) that has been introduced due to decreased funding. Employer-employee negotiations start on September 22 and will last at least six weeks.
Update 14/1/2016:Following concluded employer-employee negotiations Lappeenranta University of Technology (Lappeenrannan teknillinen yliopisto) is to cut 120 positions instead of previously reported 130 positions. 55 jobs will be cut through direct dismissals, 51 by not renewing fixed-term contracts and the rest through retirement, job loss on voluntary basis and through reducing full-time jobs to part-time jobs.
The Finnish government is in total reducing the grants to the Finnish universities by €600 million during 2016-2020, leading to redundancies at many of the 14 Finnish universities. The ERM has reported on ongoing employer-employee negotiations at Aalto University, Åbo Akademi, the University of Eastern Finland and the University of Helsinki.
Eurofound (2015), Lappeenranta University of Technology, Internal restructuring in Finland, factsheet number 84736, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/84736.