OM

Type
Internal restructuring
Country
World
Region
Location of affected unit(s)
Sector
Manufacturing
(26 - 27) Manufacture of electrical, electronic and optical products
26 - Manufacture of computer, electronic and optical products
26 - Manufacture of computer, electronic and optical products
240 jobs
Number of planned job losses
Job loss
Announcement Date
13 July 2003
Employment effect (start)
Foreseen end date

Description

OM is implementing a cost reduction programme which is estimated to lower the company's costs by SEK 578 m and result in lower revenues of SEK 105 m on a yearly basis. These measures aim to achieve sound profitability and create a stronger company in preparation for the merger with HEX. Redundancy measures are expected to lead to approximately 240 job losses. Approximately 200 of the 240 affected positions are in Sweden.

Sources

Citation

Eurofound (2003), OM, Internal restructuring in World, factsheet number 60097, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/60097.