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.
The Swedish company Ludvig Svensson, manufacturer of home textiles and textile-based products, has announced that it is to cut 25 jobs at its factory in Kinna. Of the 25 redundancies, the cuts will affect 22 blue collar-workers and 3 white collar-workers. The company is highly dependent on export demand as 80 percent of the production is exported and the downsizing is a consequence of the fall in the international demand for textile products.
Ludvig Svensson's textiles are manufactured in Kinna (Sweden) and in Shanghai (China).
The company currently has approximately 250 employees in Kinna, meaning the reduction affects 10 percent of the site’s total workforce.
As of September it is still unknown when the job losses will be implemented by.
Eurofound (2012), Ludvig Svensson, Internal restructuring in Sweden, factsheet number 74155, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/74155.