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.
Due to a decline in orders, IAC Group, with approximately 1,700 employees in Färgelanda, Gothenburg, Skara, Tidaholm and Trollhättan has been forced to leave notices of dismissal. Negotiations with union representatives will begin immediately. Approximately 280 people will be affected. The long-range purpose of the proposed measures is to ensure employment within IAC’s Swedish operations. If the market does not stabilize, however, further personnel cuts may be necessary – and in that case there may be a risk of drastic cuts. The production site in Tidaholm will close down in 2009 and the employees will be phased out of the company during the year. Tidaholm is the only factory that will actually close down entirely while the other sites will go through restructuring measures.
IAC is an American company that specializes in providing integrated interior and exterior systems to automotive manufacturers worldwide. Two of their largest customers in Sweden are Volvo and Saab.
Eurofound (2008), IAC, Internal restructuring in Sweden, factsheet number 67390, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/67390.