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 Manufacturing Of Machinery And Equipment Manufacture Of Machinery And Equipment N.E.C. 28 - Manufacture of machinery and equipment n.e.c.
80 jobs Number of planned job losses
Announcement Date
25 May 2007
Employment effect (start)
Foreseen end date
Description
KMT is one of the leading global players in machines, equipment and precision grinding services for the bearing and automotive industries. On 25 May 2007, the company announced that it had initiated codetermination talks concerning the reduction of the workforce by 80 employees, out of a total worforce of 380. The cuts will mainly affect staff at the units KMT Lidköping and KMT UVA and are due to unsatifactory results for the KMT Precision Grinding business area in 2006. Order bookings have decreased by 25% and the operating profit has gone down by 76%.
Eurofound (2007), KMT, Internal restructuring in Sweden, factsheet number 65424, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/65424.
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