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 Wood And Paper Materials Manufacture Of Paper And Paper Products 17.1 - Manufacture of pulp, paper and paperboard
235 jobs Number of planned job losses
Announcement Date
30 June 2005
Employment effect (start)
Foreseen end date
1 June 2006
Description
M-real announced that the Wifsta fine paper mill in Sweden would be integrated into the Husum pulp and paper. Negotiations with trade unions regarding the restructuring plan have already been completed. The aim of the changes is to achieve total annual cost savings of at least €22 million. All in all, the reduction of employees will be 235 by the end of 2006, resulting in an €15 million non-recurring cost.
Sources
30 August 2005: Dagens Industri
30 June 2005: Svenska Dagbladet
30 June 2005: Press release by M-Real
30 June 2005: Sveriges Radio
Citation
Eurofound (2005), M-Real, Internal restructuring in Sweden, factsheet number 61862, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/61862.
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