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.
Kouvola, Kokkola, Tornio, Savonlinna, Järvenpää, Hyvinkää, Kuopio and Oulu
Sector
Retail Retail Trade, Except Of Motor Vehicles And Motorcycles Retail Sale Of Other Household Equipment In Specialised Stores 47.52 - Retail sale of hardware, paints and glass in specialised stores
160 jobs Number of planned job losses
Announcement Date
17 October 2016
Employment effect (start)
Foreseen end date
Description
Finnish chain of hardware stores Stark has initiated employer-employee negotiations aiming to cut up to 170 jobs. The company is considering closing six of its 36 stores and merging stores in two locations. Stores in Kouvola, Kokkola, Tornio, Savonlinna, Järvenpää, and Hyvinkää could be closed while the company is planning on merging its stores in Kuopio and Oulu. According to the company, urbanisation and changing consumption patters are the reasons behind the restructuring. The company's activities will be concentrated on the geographical areas with the highest growth potential in the future. As of October 2016, it is not known when the job losses will be implemented by. Stark is owned by DT Finland, which is a part of the DT Group. DT Group has its headquarters in Denmark.
Updated, 12/12/2016;Following concluded employer-employee negotiations 160 jobs will be cut as Stark closes six stores.
Sources
17 October 2016: YLE
7 December 2016: YLE
Citation
Eurofound (2016), Stark, Internal restructuring in Finland, factsheet number 88977, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/88977.
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