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 Construction Of Buildings 41 - Construction of buildings
2,000 jobs Number of planned job losses
Announcement Date
25 November 2008
Employment effect (start)
1 January 2009
Foreseen end date
31 December 2009
Description
Skanska is one of the world's ten largest construction companies with operations all over the world and headquarters in Sweden. The company employs about 56,000 persons in total and 11,000 in Sweden.
In Skanska’s Nine Month Report for 2008, the Group announced that several construction and residential development markets are weakening. A review of the current order backlog and anticipated order bookings has indicated a decline of about 15 percent in the Nordic region in 2009. The main reason is the sharp decline in the residential markets, but a weakening of other building segments is also anticipated.
The measures to adapt workforce are expected to affect 2,000 employees in Sweden and 1,400 in the rest of the Nordic region at a cost of approximately SEK 600M (EUR 60M). The organization will also be continuously readjusted in Skanska’s other markets, but in the current situation, the company sees no need for extraordinary measures. The measures that have now been decided will be successively implemented during 2009. The personnel cutbacks are divided between the Nordic countries as follows: Sweden 2,000 persons; Finland 600 persons and Norway 800 persons.
Sources
26 November 2008: Dagens Industri
Citation
Eurofound (2008), Skanska, Internal restructuring in Sweden, factsheet number 67675, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/67675.
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