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 Wood And Of Products Of Wood And Cork, Except Furniture; Manufacture Of Articles Of Straw And Plaiting Materials 16 - Manufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials
88 jobs Number of planned job losses
Announcement Date
3 September 2008
Employment effect (start)
3 January 2009
Foreseen end date
3 May 2009
Description
In two annoucements from LB-Hus in just a month, 88 workers have been given their notice. LB-Hus is one of Sweden’s leading manufacturers of MMC Timber Frame homes and has delivered approx. 45,000 homes since its formation in 1957. LB-Hus currently manufactures 700 dwellings per year. Present turnover is approx. around 100m EUR. The notices are attributed to unstable financial market and the CEO says that they are inevitable due to the current recession. People are reluctant to buy houses when the financial situation is as it is right now, stated CEO Hans Kvist in an interview.
Sources
Citation
Eurofound (2008), LB-Hus, Internal restructuring in Sweden, factsheet number 67235, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/67235.
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