JM

Type
Internal restructuring
Country
Sweden
Region
Location of affected unit(s)
Sector
Construction
41 - Construction of residential and non-residential buildings
41 - Construction of residential and non-residential buildings
41.00 - Construction of residential and non-residential buildings
145 jobs
Number of planned job losses
Job loss
Announcement Date
20 August 2024
Employment effect (start)
20 February 2025
Foreseen end date
31 May 2025

Description

Swedish construction company JM has announced the dismissal of 145 employees, concerning mainly craftsmen in the company's Swedish production. The reason provided by the company for the redundancies is lack of work.

According to JM, the housing market is still hesitant and thus doesn't allow for the starting of new housing projects in a similar pace and size as already completed projects.

Last time JM announced a need for redundancies was in 2023, also due to the recession and a reduced demand of construction (JM-2023-SE).

Sources

  • 20 August 2024: Dagens industri (www.di.se)

Citation

Eurofound (2024), JM, Internal restructuring in Sweden, factsheet number 201480, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/201480.