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.
Swedish electric car manufacturer Polestar has given notice about the termination of 250 white-collar jobs in Gothenburg, Sweden. Cooperation negotiations started at the end of January with trade unions Unionen, Akademikerna and Ledarna. The negotiations are expected to be finalised in June 2024.
The redundancies in Sweden are part of a global restructuring, where Polestar plans to reduce its workforce by 15%. The background to the decision is the business plan to deliver around 160,000 cars by 2025, and the continued challenging global economic situation. In addition to the layoffs in Sweden, the company is also planning to dismiss 200 employees globally.
Erik Falck, the trade union president of Unionen at Polestar says “the most important thing is that everything is done in the right way. It is sad to lose your job, but the most important thing is that everything is done correctly”.
As of January 2024, it is yet unknown when precisely the job losses will be implemented by Polestar.
In 2022, Polestar was expanding rapidly and recruited 100 software developers to the headquarters [Polestar-2022-SE]. In 2023, Polestar planned to reduce its workforce by 10% due to the company’s lowered sales forecast [Polestar-2023-SE].
Polestar has about 3,300 employees, of which some 1,500-1,600 are employed in Sweden.
Eurofound (2024), Polestar Performance, Internal restructuring in Sweden, factsheet number 200717, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/200717.