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 technology company Nokia announced its plan to cut up to 310 jobs. The cuts at the Technologies unit will affect teams in Finland (190 job lost) but also UK an US. The reduction measures are due to the fact that expected results were not met and the company stated that they will focus on digital health products. This redirection of efforts will be supported by the French developer of wearable health device Withings, which has been acquired early this year.
The timeline of the reduction has not been specified yet. Employee representatives from Finland have been invited to appear at 'cooperation negotiations'.
Eurofound (2017), Nokia, Internal restructuring in World, factsheet number 92476, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/92476.