|Redundancies caused by the closure of a Finnish subsidiary company in France|
|Description||Specific instance notified by the trade union Force Ouvrière regarding the activities of subsidiary of the Finnish multinational group ASPOCOMP OYJ operating in France.|
|Theme(s)||Disclosure, Employment and industrial relations|
|Date||4 Mar 2002|
Read the public statement (in French and English) issued by the French NCP regarding the company's breach of the Guidelines - 13 November 2003
The French NCP received a request for review from the trade union Force Ouvrière alleging that a subsidiary of the Finnish multinational group ASPOCOMP OYJ operating in France had breached the employment and industrial relations, and disclosure provisions of the Guidelines by filing for bankruptcy despite having signed a collective redundancy agreement with employees.
The French NCP consulted with all parties involved and worked with the Finnish NCP to obtain further information regarding the allegations. The NCP concluded that ASPOCOMP may have been aware that its subsidiary's financial situation would not allow it to uphold the redundancy agreement. It furthermore concluded that the subsidiary did not inform its employees that its auditor would initiate a warning procedure, which took place shortly after the social agreement was signed, and was therefore in breach of the disclosure provisions of the Guidelines.