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.
Manufacturing Manufacture Of Food And Beverage Manufacture Of Food Products 10 - Manufacture of food products
250 jobs Number of planned job losses
Announcement Date
22 April 2005
Employment effect (start)
Foreseen end date
31 December 2005
Description
The trade union representatives at Cerealia Foods and Bread have been informed that the company plans to close down its plant in Stockholm by the end of 2005. Negotiations with trade unions regarding the 250 full-time workers will soon start. Despite some commercial successes, we still have a negative cash flow. We must rationalise the production to have a chance to survive in the long term, stated Jan Carreman, branch director. A large analysis has been carried out about what can be done in the short term. All the alternatives point out that the closure of the companys plant in Stockholm will be the most efficient in terms of results, he added. If the closure plan is approved, some 75 jobs could be created at other locations within the group.
Sources
22 April 2005: Press release by Cerealia
Citation
Eurofound (2005), Cerealia Foods & Breads, Closure in Sweden, factsheet number 61461, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/61461.
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