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.
Husqvarna, Swedish manufacturer of lawn and garden equipment, has decided to reduce its staff at its production plan in Huskvarna by 300 employees to improve profitability. The reductions are part of a global program in which 600 employees will be let go. Husqvarna has 15,700 employees worldwide and 1500 employees at the affected facility.
The Union of Metalworkers questioned whether it will be possible to keep production going after such large reductions. For earlier round of redundancies see here: 14580, 13862, 11591, 11592.
The reductions will start taking effect in the first half of 2013 and will be completely implemented by the end of 2014. The savings induced are calculated to be 160 million SEK in 2013 and 220 million SEK in 2014 while the costs are estimated to 250 million SEK.
Eurofound (2012), Husqvarna, Internal restructuring in Sweden, factsheet number 74457, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/74457.