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.
Arts / Entertainment Arts, Entertainment And Culture Gambling And Betting Activities 92 - Gambling and betting activities
129 - 140 jobs Number of planned job losses
Announcement Date
10 April 2017
Employment effect (start)
Foreseen end date
Description
Finnish state owned gambling and betting company Veikkaus has initiated employer-employee negotiations aiming to cut 140 positions. The negotiations include 960 employees and redundancies are due to the merger of the three gambling companies owned by the Finnish state; Veikkaus, Ray and Fintoto, at the end of 2016. The internal restructuring aims to harmonise the activities in the previously independent companies and to increase the cost-effectiveness and competitiveness of Veikkaus.
Updated, 12/06/2017;Following concluded employer-employee negotiations 129 jobs will be cut at Veikkaus. Between 65-70 employees will be directly dismissed, while the remaining redundancies will be carried out through the retirement of around 25 employees and non-extension as well as cancellation of a number of fixed-term contracts.
Sources
10 April 2017: Helsingin Sanomat (HS)
8 June 2017: YLE
Citation
Eurofound (2017), Veikkaus, Merger/Acquisition in Finland, factsheet number 90720, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/90720.
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