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.
The Finnish electric network contractor Elvera is initiating employer-employee negotiations to reduce approximately 40 jobs. The reason behind the reductions is the very tight competition between network contractors, which has left the company with an order book that cannot guarantee work for all employees in 2018. Elvera, currently based in Eastern and South-Eastern Finland only, says it is looking to expand its activities to new geographical areas and hopes to save as many jobs as possible. The company's employee representation hopes dismissals could be avoided through retirement and other arrangements.
Update 03/01/2018: The concluded employer-employee negotiations ended at seven retirements and 26 dismissals. The remaining approximately 270 staff have been given warning of potential temporary lay-offs.
Eurofound (2017), Elvera, Internal restructuring in Finland, factsheet number 92344, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/92344.