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.
295 employees of Sandvik Materials Technology, a Swedish producer of stainless steel products, have been issued with redundancy notices. The reduction will affect 230 white collar workers in Sandviken as well as 20 white collar workers and 45 blue collar workers in Hallstahammar.
Sandvik Materials Technology is part of the Sandvik Group. The workforce reduction is a consequence of the Sandvik Group's new strategic direction for 2014. In addition to the redundancies in Sandvik's Materials Technology group, 70 white collar workers within the company subsidiary, Sandvik Mining and Construction, will be affected. The changes are expected to be completed during the first half of 2012.
The Sandvik Group had approximately 47064 employees globally in December 2010. Sandvik Materials Technology had 9058 workers globally. Sandvik mining and construction which specialices in rock-working equipment, tools used in mining and civil engineering had 15 455 employees globally.
Eurofound (2011), Sandvik Materials Technology, Internal restructuring in Sweden, factsheet number 72665, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/72665.