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 Manufacturing Of Machinery And Equipment Manufacture Of Machinery And Equipment N.E.C. 28 - Manufacture of machinery and equipment n.e.c.
120 jobs Number of planned job losses
Announcement Date
21 October 2013
Employment effect (start)
22 October 2013
Foreseen end date
Description
Metso Power, supplier of technology and services in the energy business, is to decrease its staff by 120 jobs.
The restructuring is to start during the last quarter of 2013 and include the downsizing of boiler manufacturing in Gothenburg.
The measure is due to increased competition in the European energy market, impacted by the slow economy, and political uncertainty about renewable energy support schemes.
The company furthermore has announced to implement other job-related cost-saving initiatives that are to be decided upon.
Metso Power employs about 470 workers in Sweden and is a subsidiary of the Finnish Metso group. For previous restructurings at Metso group in Sweden see measures announced in 2009 and in 2008.
Sources
21 October 2013: Metso (press release)
22 October 2013: Göteborgsposten
Citation
Eurofound (2013), Metso Power, Internal restructuring in Sweden, factsheet number 76027, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/76027.
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