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.
Volvo is a well known Swedish producer of vehicles including trucks and cars. CEO Martin Lundstedt stated that while demand for trucks is significantly increasing in Europe, there is an excess of production in North America. According to the news, in the second quarter of 2016, Volvo delivered 52,670 trucks, compared with 55,613 in Q2 2015. Order intake dropped to 45,422 trucks from 49,551 in Q2 2015. Thus, Volvo plans to employ further 400-500 workers at its factory in Gothenburg, Sweden, reducing at the same time the number of employees in North America by around 300 persons.
Eurofound (2016), Volvo, Reshoring in Sweden, factsheet number 180, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/180.