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.
The Norwegian housing construction group Mestergruppen will cut 100 jobs by 2023, especially in the departments producing cabins and building material, which corresponds to about 8% of the workforce. The reasons for the downsizing is a fall in the market due to high interest rates, prices on electricity and raw materials, with a reduction in construction of about 20-30 percent. In addition to downsizing, the company will cut costs in marketing, consultancy use and projects.
Mestergruppen is among Scandinavia's largest building material chains with over 240 stores in Norway, Sweden and Denmark. Mestergruppen's largest owner is the family-owned investment company Ferd. The group's turnover is about 18 billion NOK.
Eurofound (2023), Mestergruppen, Internal restructuring in Norway, factsheet number 108165, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/108165.