VR, the Finnish state-owned railway operator, in mid-March announced it is to reduce services and temporarily lay off all staff for no more than 90 days due to a sharp decline in passenger demand caused by the coronavirus outbreak. (Antti Aimo-Koivisto – Lehtikuva)

NEARLY A FIFTH of Finnish employers are worried about going belly up due to the coronavirus pandemic, finds a survey by the Confederation of Finnish Industries (EK).

“The economic emergency of employers has exacerbated rapidly. Temporary lay-offs are increasing sharply, but the threshold for lay-offs remains high even in a time of crisis,” stated Jyri Häkämies, the director general at EK.

Finnair on Monday said it will reduce its capacity by 90 per cent in response to the sharp drop in passenger demand caused by the coronavirus outbreak and subsequent travel restrictions. (Mikko Stig – Lehtikuva)

FINNAIR on Monday revealed it will adjust its operations considerably due to the sharp decline in passenger demand brought about by the coronavirus pandemic and reduce its capacity by 90 per cent as of 1 April.

The Finnish majority state-owned airline till thereby operate flights on no more than around two dozen routes as of the start of next month.

Finland’s flag carrier, Finnair, has cancelled nearly 4,000 flights in a bid to adapt to the drastic drop in passenger demand caused by the coronavirus outbreak. (Antti Aimo-Koivisto – Lehtikuva)

FINNAIR will step up its effort to adjust to the steep decline in passenger demand caused by the coronavirus outbreak by cutting capacity on routes in Finland and Europe.

The Finnish majority state-owned airline announced yesterday it has decided to cut its capacity on domestic and continental routes by over 20 per cent by cancelling a total of some 2,400 flights and switching to smaller aircraft on certain routes.

A sharp decline in passenger demand caused by the coronavirus outbreak has compelled Finnair, the Finnish majority state-owned airline, to cancel a total of 177 European flights scheduled for late March. (Roni Rekomaa – Lehtikuva)

FINNAIR on Friday announced it will cancel a total of 177 flights in Europe between 20 and 28 March.

The Finnish majority state-owned airline stated that the reason for the cancellations is a decline in passenger demand, which has been described as the most dramatic in 10 years by the International Air Transport Association (IATA).

Finnair has announced further reductions in service frequency on its routes to China, Japan and South Korea, citing the coronavirus outbreak. (Heikki Saukkomaa – Lehtikuva)

FINNAIR on Wednesday announced it will begin negotiations about temporary lay-offs with its entire staff in Finland.

The Finnish majority state-owned airline stated that it will adjust its human resources due to the “negative financial effects” of the coronavirus outbreak by laying off all employees within the scope of the negotiations for a single period of 14–30 days.

Nokia on Tuesday said it will cut around 2.5 per cent of its staff of 6,000 in Finland by the end of 2020. (Markku Ulander – Lehtikuva)

NOKIA on Tuesday announced it has concluded its latest round of consultative negotiations and decided to slash its headcount this year by a maximum of 148 in Finland.

The Finnish network equipment manufacturer reminded that the redundancies are part of its re-organisation and cost-saving programme and will affect all of its units in the country, except for its product development staff working on 5G technologies and manufacturing staff in Oulu, North Ostrobothnia.

Finnair says its Push for Change programme was used to compensate for almost 6,900 tonnes of carbon dioxide emissions and pay for biofuel used on three flights from San Francisco to Helsinki. (Martti Kainulainen – Lehtikuva)

FINNAIR on Monday announced it will pull the plug on its carbon offset and biofuel scheme due to the legal interpretation of the National Police Board.

The National Police Board has determined that offering consumers an opportunity to pay an additional fee to offset the climate impacts of their purchases falls under the scope of the money collection act, effectively making such schemes unlawful for businesses.

Rajeev Suri will leave Nokia after 25 years, including 10 as chief executive, with the Finnish network equipment manufacturer. (Martti Kainulainen – Lehtikuva)

PEKKA LUNDMARK, the chief executive of Fortum, has been appointed as the next chief executive of Nokia.

Lundmark on Monday morning announced he will step down as the chief executive of the state-owned energy company in order to take the reins of the Finnish network equipment manufacturer as of 1 September 2020.

Henrik Ehrnrooth, the CEO of Kone, was photographed at the earnings call of the lift and escalator manufacturer in Espoo, Finland, on 28 January 2020. (Markku Ulander – Lehtikuva)

KONE on Monday announced its decision to withdraw from discussions to acquire the lift business of Thyssenkrupp, an engineering giant headquartered in Essen, Germany.

The Finnish lift and escalator manufacturer stated earlier this year it has tabled a non-binding offer worth approximately 17 billion euros for the business together with CVC Capital Partners, a private equity firm based in Luxembourg.

Finnair on Friday said it has extended the cancellations of flights to mainland China until late March. (Antti Aimo-Koivisto – Lehtikuva)

FINNAIR on Friday announced it has extended the cancellations of flights to mainland China until 28 March.

The Finnish majority state-owned airline cited a decline in demand caused by the coronavirus epidemic as the reason for its decision to cancel flights to Beijing Capital Airport and Shanghai Pudong International Airport between 1 and 28 March.