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.
Construction Construction Of Buildings And Infrastructure Engineering Civil Engineering 42 - Civil engineering
100 jobs Number of planned job losses
Announcement Date
4 December 2008
Employment effect (start)
1 January 2008
Foreseen end date
Description
The tunnel, mine and road construction company Leonhard Nilsen & Sønner (LNS) is to cut around 100 jobs due to reduction of turnover as result of fewer projects and the financial crisis. 55 of the affected employees are working at Svalbard.
LNS has expanded considerably over the last ten years, from an annual turnover of 130 MNOK in 1999 to 1,5 billion NOK this year. The manager and owner, Kåre Nilsen, stated that downsizing the workforce from a high to a ‘normal’ or more standard level of employment is a precautionary measure. As of 7 December 2008 there is no further information as to when these job cuts will occur or the exact number of direct dismissals.
Sources
24 November 2008: Svalbardposten
4 December 2008: Dagens Næringsliv
Citation
Eurofound (2008), Leonhard Nilsen & Sønner (LNS), Internal restructuring in Norway, factsheet number 67561, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/67561.
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