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.
Construction Specialised Construction Activities Specialised Construction Activities 43.2 - Electrical, plumbing and other construction installation activities
160 jobs Number of planned job losses
Announcement Date
29 May 2017
Employment effect (start)
Foreseen end date
Description
Finnish construction company Caverion is to cut 160 jobs in Sweden as part of a major savings scheme. The company aims to save €2.7 million during 2017 and €5.5 million during 2018. The savings scheme is being executed in order to improve the company's financial results. The internal restructuring will contain both staff reduction and merging of existing units. The cost saving scheme is estimated to cost €6.3 million in restructuring costs. Caverion states that the company is ready for future cost-saving efforts if needed, but it is not expecting further redundancies during 2017.
Sources
29 May 2017: Taloussanomat
Citation
Eurofound (2017), Caverion Sverige AB, Internal restructuring in Sweden, factsheet number 91073, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/91073.
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