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.
Manufacturing Manufacture Of Basic Metal And Fabricated Metal Products Manufacture Of Basic Metals 24 - Manufacture of basic metals
140 jobs Number of planned job losses
Announcement Date
28 November 2012
Employment effect (start)
Foreseen end date
Description
Sandvik, global engineering group in tooling, materials, mining and construction, has announced reductions amounting to 140 jobs as a part of the on-going global structural adjustments. The reductions are also motivated by lower market demand.
The jobs affected are within Sandvik Materials Technology and Sandvik Mining. It is already known that 75 redundancies will be implemented in Sandviken, and 40 losses in Fagersta. It is reported that all 75 losses in Sandviken will be implemented by other means than direct dismissals.
The current reductions are announced in conjunction with other global measures, such as the closure of the group’s units in North Bay, Canada, and Rocklea, Australia, as well as the Seco Tools US distribution centre in Troy, USA. Another unit that will be affected is Sandvik Española in Barcelona, Spain. The global restructuring measures affect the four market areas Sandvik Mining, Sandvik Machining Solutions, Sandvik Materials Technology and Sandvik Construction and will amount to approximately 1,500 jobs lost world-wide.
Earlier restructuring measures by Sandvik are covered in fact sheets 20035, 19064, 12033.
As of December 2012, there is no information about when the reductions will start taking effect, or when they will be implemented by.
Sources
28 November 2012: Sveriges Radio
28 November 2012: Sandvik
28 November 2012: Dagens Nyheter
Citation
Eurofound (2012), Sandvik, Internal restructuring in Sweden, factsheet number 74594, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/74594.
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