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 subsidiary of the Finnish IT services company, Tieto, has announced plans to reduce its personnel in Czechia by the end of 2019. The 250 job cuts out of 2,700 staff are expected to affect all business units apart from Product Development Services (PDS). Moreover, 210 employees in Finland and 160 in Sweden will be made redundant.
The dismissals are part of the global organisational changes declared by the company earlier this year. As part of its new strategy, Tieto has decided to remove matrix organisational structures and introduce a simplified and increasingly agile operating model. These changes are said to be essential for long-term competitiveness.
Eurofound (2019), Tieto Czech, Internal restructuring in Czechia, factsheet number 97545, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/97545.