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.
Finnish software company Tieto has announced 160 dismissals in Sweden. All divisions but the Product Development Service are affected. The job reductions aim at increasing efficiency and the company stated that they will introduce a simplified and agile organisational structure that in turn is said to reduce the need for internal coordination and administration. These job cuts are part of a wider restructuring effort, which will also affect employees in Czech Republic (250 job cuts) and in Finland (190 job cuts).
In the new strategy, the company intends to invest in new technologies and accelerate data-led innovation. Additionally, it will also add expertise within areas like data science, artificial intelligence, data engineering and software development. The job reductions might continue until the end of 2019 with the biggest share probably taking place in the beginning of summer 2019.
Tieto employs approximately 15,000 people globally and nearly 2,900 people in Sweden.
Eurofound (2019), Tieto, Internal restructuring in Sweden, factsheet number 97789, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/97789.