Finland braces for fresh wave of strikes next week

This post was originally published on this site

(Reuters) – Finland was set for a fresh round of strikes at some of its biggest companies from Monday after state mediators failed to negotiate a deal between industrial sector unions and employer organizations on wages and work conditions.

The Industrial Union, which organizes workers in the metals chemicals and wood products sectors, and two more unions have said that about 100,000 workers will begin a three-day strike on Monday, stalling production at companies including Nokian Tyres (HE:), oil refiner Neste (HE:) and stainless steel producer Outokumpu (HE:).

The Confederation of Finnish Industries, Finland’s biggest employers’ association, estimates the strikes will cost the companies a combined 500 million euros ($551 million) in lost revenue and hit the wider economy to the tune of 200 million euros.

“Mediators have today met with the parties in the ongoing labor disputes, but there are still no grounds for finding solutions,” the National Conciliator’s Office said in a statement on Thursday.

The Finnish Forest Industries Federation has announced a six-day lockout from Dec. 12 unless the conflict is solved, closing half of the country’s sawmills and plywood plants.

“No new meetings have been agreed,” state mediator Vuokko Piekkala said in the statement. “Mediation can resume only when the parties’ stances change.”

Finland has suffered a number of large labor disputes lately, with last month’s two-week strike at the state postal service leading to the resignation of the prime minister this week.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Add Comment