Skandia

Type
Internal restructuring
Country
Sweden
Region
Location of affected unit(s)
Sector
Financial / Insurance/ Estate
65 - Insurance, reinsurance and pension funding, except compulsory social security
65 - Insurance, reinsurance and pension funding, except compulsory social security
65 - Insurance, reinsurance and pension funding, except compulsory social security
300 jobs
Number of planned job losses
Job loss
Announcement Date
24 November 2003
Employment effect (start)
Foreseen end date
1 December 2003

Description

Skandia has decided to implement cost-cutting measures that are expected to entail annual cost reductions of approximately SEK 200 million, with full effect in 2004. As a result, the number of employees will decrease by approximately 300.

Sources

  • Skandia
  • 24 November 2003: Press release : Interim report (jan-sept 2003)

Citation

Eurofound (2003), Skandia, Internal restructuring in Sweden, factsheet number 60126, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/60126.