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.
Manufacturing Manufacturing Of Machinery And Equipment Manufacture Of Machinery And Equipment N.E.C. 28.92 - Manufacture of machinery for mining, quarrying and construction
150 jobs Number of planned job losses
Announcement Date
20 November 2015
Employment effect (start)
31 January 2016
Foreseen end date
Description
Finnish manufacturer of mining and quarrying machinery Outotec has initiated employer-employee negotiations regarding 160 jobs in Finland. The negative trend within the mining- and quarrying market is the reason for the restructuring. In total 650 jobs are threatened globally and the company is planning to save €70 million during 2016. The negotiations will be concluded in January and Outotec is anticipating further temporary lay offs beyond the direct dismissals. Since September 2015, 530 employees in Finland have been temporarily laid off.
Outotec has 5000 employees world wide, 1350 of them are situated in Finland. Beyond Finland, the company also has production in USA, China and Brazil.
The ERM has previously reported on redundancies at Outotec in 2013.
Update 14/1/2016:Following concluded employer-employee negotiations on 4 January 2016, 150 positions will be cut at Outotec in Finland. Of these 150, 105 jobs will be cut through direct dismissals and the remaining 45 jobs will be cut through retirement and redundancy of fixed term contracts. The reduction of the workforce will be carried out by the end of January
Sources
20 November 2015: Svenska YLE
20 November 2015: Vasabladet
4 January 2015: Company press release
Citation
Eurofound (2015), Outotec, Internal restructuring in Finland, factsheet number 85806, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/85806.
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