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 43.22 - Plumbing, Heat And Air-Conditioning Installation
100 - 110 jobs Number of planned job losses
Announcement Date
16 December 2024
Employment effect (start)
16 December 2024
Foreseen end date
Description
Instalco, a leading Nordic installation company based in Sweden, has announced significant cost-saving measures in response to a challenging market environment. The measures include layoffs affecting approximately 110 employees, termination of contracts for around 100 contracted staff, project write-downs, and the closure of eight underperforming subsidiaries.
The company attributes the reduction in workforce and restructuring efforts in part to not meeting financial targets for 2024, in part due to their exposure to the financial troubles concerning the Swedish battery manufacturer Northvolt, a former client of Instalco. A recent restructuring by Northvolt has been recorded in the ERM Northvolt 2024 - SE
Instalco AB is a large construction installation company which does plumbing, electrical installation, heating installation and other installation. Their company has about 150 subsidiaries in the sector.
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