STX Restructuring
Finland's national public-broadcasting company announced on September 16 (local time) that STX Finland will close its Rauma shipyard. As part of the STX Finland restructuring, functions at the Rauma Shipyard and facilities will be shifted to STX’s other facility in nearby Turku by 2014.
As a result, about 700 workers out of 750 at the Rauma Shipyard are likely to lose their jobs. Currently, most of them are temporarily laid off. Among them, 100 people are protesting the company’s decision by holding demonstrations. STX Finland plans to start negotiations with its employees from September 17.
Jan Vapaavuori, Finland's minister of economic affairs, asked the shipbuilder to negotiate with the local government in order to minimize the effects of the closure on the local economy. The minister said that he will take possible legal action to support the shipbuilding business.
“The decision was made based on an estimate of the company’s current state and the market outlook. The company is expected to make profits as early as next year,” said Jari Anttila, EVP & Deputy CEO of STX Finland, in a statement.