Nearly 50% of Companies in Finland Cutting Investments Amid Strikes, Threatening Economy’s Stability

The survey conducted by Teknologiateollisuus ry revealed that political strikes in Finland have had extensive and severe effects on business operations. Four out of ten companies stated that they are reducing investments in Finland due to these strikes, highlighting the negative impact on their operations. Large companies, in particular, expressed significant concerns, with 20 percent indicating a significant reduction in investments and 32 percent opting for a slight reduction.

Despite the impacts of the strikes, about two-thirds of medium-sized companies reported that the effect on investments was minimal. The survey question about reducing investments was posed tentatively, with the majority of responses indicating concerns about the strikes influencing future investment decisions. Additionally, a quarter of large companies revealed that they had already shifted production to foreign units in response to the strikes.

Logistics strikes have also affected production for nearly a third of industrial companies, even if they were not directly targeted by the strikes. Difficulties in sourcing production inputs, implementing exports, and meeting customer demands have been challenges reported by companies. Furthermore, there are concerns about reputational damage and potential layoffs as a result of the ongoing labor disputes.

The survey was conducted from March 11th to 18th, with 645 companies responding. However, the low response rate affects the representativeness of the survey as nearly two-thirds of member companies did not participate. The government is considering legislation to limit the duration of political strikes to 24 hours, which could alleviate concerns for some businesses. Directors and industry experts expressed concerns about the broader economic impact of prolonged strikes on the Finnish economy and the need for a resolution to avoid further disruptions.

In conclusion, political strikes in Finland have had far-reaching consequences on companies’ operations prompting them to consider potential production shifts and investment reductions due to ongoing uncertainties

By Samantha Johnson

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