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.
Volvo IT gives notice to 350 employees, spread over all their units in Sweden. The reason is declining sales in all parts of Volvo Group, as well as in Ford-owned Volvo Cars which is Volvo IT's largest customer. The negotiations have just been initialised and therefore no one can give an exact timeframe for the employment measures. However, according to Swedish labour law the measures can be introduced 6 months after the notice i.e. May 2009. No more details can be given at this point.
Volvo IT is a global company and part of the Volvo Group. They deliver industrial IT solutions, telematics services and consulting services. Volvo Information Technology AB is a wholly-owned subsidiary of AB Volvo. Customers include the Volvo Group, the Ford-owned Volvo Cars, SCA, Skandia, and GE Healthcare.
Eurofound (2008), Volvo Information Technology, Internal restructuring in Sweden, factsheet number 67480, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/67480.