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.
On 17 October 2005 the paper manufacturer giant UPM Kymmene, started codetermination negotiations in its data administration units in order to cut 140 jobs.
The cuts will affect employees in 10 countries, including Finland, Germany, France and the United States. The company wants to partially outsource its IT services and transfer some jobs to eastern and central Europe.
The company, which employs 34,000 people worldwide, said it would try to find other jobs for the affected employees, but said layoffs could not be completely avoided.
Eurofound (2005), UPM Kymmene, Relocation in World, factsheet number 62410, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/62410.