Svenskt Stål aktiebolag SSAB

Type
Internal restructuring
Country
Sweden
Region
Norra Sverige; Norra Mellansverige; Dalarnas län
Location of affected unit(s)
Oxelösund, Borlänge, Luleå
Sector
Manufacturing
(24 - 25) Manufacture of metals
24.3 - Manufacture of other products of first processing of steel
24.3 - Manufacture of other products of first processing of steel
200 jobs
Number of planned job losses
Job loss
Announcement Date
10 February 2012
Employment effect (start)
10 February 2012
Foreseen end date

Description

Svenskt Stål aktiebolag (SSAB), a Nordic manufacturer of commercial steel, announced 200 job losses. The jobs will be reduced amongst white collar workers and affect the Swedish towns Oxelösund, Borlänge and Luleå. Most of the job cuts will be implemented through natural wastage and early retirements.

The redundancies are said to be due to unexpected profit losses for the fourth consecutive quarter. Demand in Europe remains weak with low price levels and SSAB has therefore launched an efficiency programme including employee cutbacks.

Sources

  • 10 February 2012: Norbottens Kuriren
  • 10 February 2012: Svenska Dagbladet
  • 10 February 2012: sverigesradio.se

Citation

Eurofound (2012), Svenskt Stål aktiebolag SSAB, Internal restructuring in Sweden, factsheet number 73068, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/73068.