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.
Pharmaceutical company Astra Zeneca has announced it is to cut 2000 jobs as it is facing patent challenges and escalating generic competition. The firm attributes the job reductions to slow growth within the pharmaceutical sector. The jobs are mainly located on the production side. The units in Södertälje will be affected the most where an estimated 1700 jobs are planned to be cut over the next 3 year period. The other 300 job cuts will be spread over Lund and Mölndal (no further information is available). These changes will be fully implemented by 2010.
Eurofound (2007), Astra Zeneca, Internal restructuring in Sweden, factsheet number 65544, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/65544.