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.
On 2 March 2010, Pharmaceutical giant Astra Zeneca announced that it will close its research facilities in Lund and cut some 900 jobs, some of which are to be relocated to facilities in Mölndal (Gothenburg). The facilities in Lund are for R&D purposes only and consequently the 900 employees are white collar workers within respiratory and inflammatory research areas. The closure is part of a savings program, which is going to save $ 1 billion (€ 733 million) annually until 2014. The goal is to streamline operations by cutting around 1,800 R&D jobs from today's 12,000 worldwide (3,800 in Sweden). According to the company, the closure will be taken in steps with final closure at the end of 2011.
Update on 17 March 2010: Astra announced that 200 of the 900 employed in Lund will be relocated to facilities in Mölndal (Gothenburg). The remaining 700 jobs in Lund will, as announced earlier, be cut.
The Swedish authorities have applied for aid from the European Globalisation Adjustment Fund (EGF).
Eurofound (2010), Astra Zeneca, Closure in Sweden, factsheet number 70255, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/70255.
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