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. 28.1 - Manufacture Of General-Purpose Machinery
200 jobs Number of planned job losses
Announcement Date
23 October 2024
Employment effect (start)
23 October 2024
Foreseen end date
Description
Husqvarna Group, owner of the Swedish manufacturing company Husqvarna, announced on the 23rd of October 2024 that they need to enforce a savings package, resulting in the dismissal of 400 employees globally. Out of these workers, 200 will be laid off in Sweden.
According to Henrik Sjöström, communications director at Husqvarna Group, the layoffs are due to a mix of factors, including inflation, high interest rates, and the reduced purchasing power of customers. The long-term savings are estimated to be SEK 500 million (€43,6 million) annually.
Husqvarna specialises in outside motor equipment, such as lawn mowers, chain saws, but also diamond tools for the construction industry.
Sources
23 October 2024: 400 får gå från Husqvarnakoncernen (www.svt.se)
Citation
Eurofound (2024), Husqvarna, Internal restructuring in Sweden, factsheet number 201824, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/201824.
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