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 Manufacture Of Computer, Electrical Electronic And Optical Products Manufacture Of Electrical Equipment 27 - Manufacture of electrical equipment
New offshoring locations
Hungary
500 jobs Number of planned job losses
Announcement Date
11 May 2004
Employment effect (start)
11 May 2004
Foreseen end date
31 March 2005
Description
Electrolux has decided to discontinue production of vacuum cleaners in Västervik, Sweden. Production will gradually be transferred to the Electrolux vacuum cleaner factory in Hungary. Production will continue during 2004, and is expected to end in the first quarter of 2005. The Electrolux vacuum cleaner factory in Västervik has approximately 500 employees. The closure of the factory will incur a total cost of approximately SEK 200 million, the majority of which will be taken as a charge against operating income in the second quarter of 2004. The yearly savings are estimated to be approximately SEK 150 million.
Sources
: Electrolux
11 May 2004: Press Release
11 May 2004: Svenska Dagbladet
Citation
Eurofound (2004), Electrolux, Offshoring/Delocalisation in Sweden, factsheet number 60345, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/60345.
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