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Free AccessLabour Fed. Extend Strikes Currently Hitting Import & Export Activity
Finland's largest labour federation, the Central Organisation of Finnish Trade Unions (SAK), has confirmed that its ongoing political strikes will continue "...without interruption, targeting the same companies – mostly affecting ports and major export firms. The labour group and its 18 member unions previously said that the strikes would continue until the end of March...."
- The latest strikes began on 11 March and have largely impacted Finland's port and rail system, significantly hampering import and export activities. The industrial action (which continues that begun in September 2023) comes in opposition to gov't labour market reforms. Yle reports, "The reforms would make it easier to fire employees, cut unemployment benfits, abolish mandated sick pay from the first day of sick leave, and increase flexibility employers have to agree terms of work locally rather than abiding by sectoral agreements, among other things."
- According to the Confederation of Finnish Industries (EK), the strikes have so far cost the companies affected EUR2bn.
- The right-leaning coalition of PM Petteri Orpo has claimed that his gov't has sought compromise and to listen, but that union demands are too extreme and that his gov't would maintain the main tenets of the reforms.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.