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.
New Wave Group, owner of Swedish glassmaker Orrefors Kosta Boda (OKB), has announced that it will cut 130 jobs at three glass plants in Sweden. The downsizing, which affects workers at the Orrefors, Kosta, and Åfors plants in southern Sweden, occurs mainly in production but other departments will also be subject to cutbacks.
The announcement follows a decision to discontinue production at the glassworks located in Åfors and Orrefors and concentrate the production in the glassworks in Kosta. The measure is undertaken for profit improvements, New Wave Group has during the years 2008-2012 covered losses in OKB in approximately 300 MSEK.
As of October 2012 it is not yet known when the job losses will be implemented by but it is expected to be completed during 2013.
Eurofound (2012), Orrefors Kosta Boda, Internal restructuring in Sweden, factsheet number 74210, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/74210.