Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Casino Cosmopol, a Swedish state-owned casino company, has concluded collective bargaining negotiations and will cut 223 jobs. The job cuts affect all three casinos owned by the company. These casinos are located in Malmö, Gothenburg and Stockholm.
The COVID-19 pandemic and the restrictions set to curb its spread are the reason behind the restructuring. All casinos owned by the company have been closed since the outbreak of the pandemic in March 2020.
In addition to the job-cuts, there will be changes to work organisation. The company aims to provide training for its employees so that, for instance, security personnel will be able to work as dealers and the other way around.
The union representative argues that these cuts were expected since the company has been hit so hard by the pandemic. According to the her, the employees understand that reorganisation of tasks is needed but the changes can also cause a lot of stress.
Eurofound (2021), Casino Cosmopol, Closure in Sweden, factsheet number 103865, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/103865.