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.
Green Cargo, railway freight carrier, is announcing reductions of 100 employees to avoid losses due to weaker market demand. Initially, the company tried to negotiate a crisis agreement with the unions. The agreement was suggested to entail a reduction of working time to 80% and pay to 90% during the coming five months. However, no deal was agreed upon and before Christmas 2012 the management announced reductions of 350 jobs instead.
Negotiations were re-opened and on 3 January 2013 a restructuring agreement was reached. 1,700 employees will be affected by working time and pay cuts, while only 100 people will be made redundant.
Green Cargo is wholly owned by the Swedish state through the Ministry of Enterprise, Energy and Communications. Earlier employment adjustments by Green Cargo are covered in fact sheets 18816, 461.
As of January 2013, there is no information about when the reductions will be implemented by.
Eurofound (2012), Green Cargo, Internal restructuring in Sweden, factsheet number 74706, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/74706.