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.
Sandvik Materials Technology, a producer of stainless steels will reduce its workforce by 900 at its unit in Sandviken in Sweden. This is due to declining demands and the current financial situation. In total, the Materials Technology company is making about 1,500 employees redundant globally, and about 1,000 jobs in Sweden are at risk. CEO Lars Pettersson states that the workforce reduction is necessary to secure the company in the future.
Sandvik Materials Technology is a producer of stainless steels, special alloy materials and advanced value-added products. Sandvik Materials Technology operates all over the world and consists of six product areas: Tube, Strip, Wire, Kanthal, Process Systems and Sandvik MedTech.
Eurofound (2008), Sandvik Materials Technology, Internal restructuring in Sweden, factsheet number 67477, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/67477.