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 Computer, Electrical Electronic And Optical Products Manufacture Of Electrical Equipment 27 - Manufacture of electrical equipment
3,000 jobs Number of planned job losses
Announcement Date
16 December 2008
Employment effect (start)
1 December 2008
Foreseen end date
31 December 2009
Description
Electrolux, the global leader in home appliances, has announced over 3,000 job cuts across the world. This is due to a decline in customer orders facing the global financial crisis. The staff reduction is to be implemented by the end of 2008 and in the course of 2009. Cost savings are expected to reach SEK 1.1 billion per year. The firm with 56,000 employees worldwide tends to minimize production costs by moving business units offshore to lower cost countries such as Mexico and Thailand.
Sources
16 December 2008: Hospodárske noviny
Citation
Eurofound (2008), Electrolux, Internal restructuring in World, factsheet number 67662, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/67662.
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