EMCC European Monitoring Centre on Change



Geographic Location

Country: Finland


Sector: Retail
Wholesale and retail trade; repair of motor vehicles and motorcycles
47 - Retail trade, except of motor vehicles and motorcycles
Number Employed: 12200
Group: Kesko

Employment Effects

Announcement Date: 08-01-2004
Planned Job Reductions min: 370
Planned Job Reductions max: 370
Type of Restructuring: Merger/Acquisition
Foreseen End Date: 01-12-2005

Additional Information

Due to a merger of Kesko Agro and K-maatalousyhtiöt, cooperation procedures will be started. The cooperation procedure concerns Kesko Agro Ltd’s agricultural business in Finland and concerns some 120 people. At the same time, K-maatalousyhtiöt Oy also starts a cooperation procedure concerning some 250 employees. The underlying factor of these procedures is the sales developments of both companies that fell short of expected. The objective is to find means of enhancing competitiveness and achieving cost savings.