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.
CEVT, a research and development company owned by Geely Automotive, has announced its plan to dismiss up to 180 employees working at its research centre in Gothenburg, south-western Sweden. In addition, the company will reduce the number of consultants working in Gothenburg.
According to CEVT, restructuring is needed because the company is in the process of shifting its focus from traditional cars towards new solutions such as software upgrades for connected cars and self-driving technology. The company needs new types of competencies that cannot be acquired through on-the-job training.
CEVT employs approximately 2,000 workers in Gothenburg. Its owner, Geely, is a Chinese multinational automotive company that also owns Volvo Cars and parts of AB Volvo.
Eurofound (2020), CEVT, Internal restructuring in Sweden, factsheet number 101637, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/101637.