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.
Financial Services Financial And Insurance Activities Insurance, Reinsurance And Pension Funding, Except Compulsory Social Security 65.3 - Pension funding
180 jobs Number of planned job losses
Announcement Date
27 November 2017
Employment effect (start)
Foreseen end date
Description
The employment pension insurance company Ilmarinen has initiated employer-employee negotiations to cut up to 180 jobs in 2018-2020. The reduction is due to the merger of the employment pension insurance companies Etera and Ilmarinen in January 2018. The two companies currently have a total of 801 employees, and employees of both companies will be treated equally in the negotiations. Ilmarinen states that the final number of redundancies is likely to be significantly lower than the estimated maximum, as the merger will be gradual and around 50 people are expected to retire in the next two years, which alleviates the pressure to restructure.
Sources
27 November 2017: Company press release
Citation
Eurofound (2017), Ilmarinen, Merger/Acquisition in Finland, factsheet number 92699, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/92699.
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