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
130 jobs Number of planned job losses
Announcement Date
21 October 2015
Employment effect (start)
1 December 2015
Foreseen end date
31 December 2016
Description
In Finland, Normet Group, a provider of advanced solutions for selected customer processes in underground mining and tunnelling, has concluded its employer-employee negotiations and decided to cut 130 jobs worldwide. The group is active in Finland, Sweden and Chile. The company is also planning to close its manufacturing operations in Ludvika, Sweden, and concentrate its operations in in Iisalmi (Finland). In addition, the Group will lay off 40 workers temporarily and is negotiating to outsource six white-collar workers.
The need for reductions was initially estimated at 80 jobs in Iisalmi. At the personnel's request, redundancies were converted to temporary lay-offs. Managing Director of Normet, Timo Rask, expects the year 2016 to be difficult. The mining industry has been in a downhill slide for a long time. It can be estimated that job cuts in other countries will affect about 60 employees (130-71).
Sources
21 October 2015: YLE
3 December 2015: YLE
Citation
Eurofound (2015), Normet, Internal restructuring in European Union, factsheet number 86029, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/86029.
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