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.
Anglo-Swedish pharmaceutical manufacturer AstraZeneca plans to cut between 1100 and 1200 jobs in Södertälje, Sweden, as part of a new restructuring plan. The company plans to cut 7300 jobs worldwide in the third restructuring round since 2007 (see factsheet 19808). Affected by the cuts are mainly researchers, but also medical staff, HR professionals and economists.
As one of the reasons for the restructuring the company gives a gloomy forecast for 2012 with revenue continuing to be adversely affected by competition and government price intervention. AstraZeneca now have plans to create a "virtual" research group in neuroscience, consisting of 40-50 researchers outside Sweden.
The timeline for the restructuring has yet to be announced.
Eurofound (2012), AstraZeneca, Internal restructuring in Sweden, factsheet number 73050, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/73050.
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