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 paper producer Korsnäs is going to cut 140 jobs as result of the merger of the companys plants in Gävle and Frövi, it was announced on 28 October 2006.
'Our objective is to leverage these changed working procedures to make the new Korsnäs into a company where we fully utilise all the advantages of coordinating resources, knowledge and production capacity together with the newly acquired Frövi plant', stated Peter Sandberg, CEO of Korsnäs.
'Korsnäs has a huge potential and these changes are a prerequisite for the continued development of the company and long-term competitiveness. New working methods and continued business development place continually new demands on the competence of our personnel' added Lotta Söderström, HR Director at Korsnäs. 'We hope the company will be able to manage this reduction in workforce through voluntary redundancies coupled with severance pay offers'.
Negotiations with trade unions have already started and are expected to be concluded by 31 December 2006.
Eurofound (2006), Korsnäs, Internal restructuring in Sweden, factsheet number 64389, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/64389.