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 For Transport Equipment Manufacture Of Motor Vehicles, Trailers And Semi-Trailers 29.3 - Manufacture of parts and accessories for motor vehicles
385 jobs Number of planned job losses
Announcement Date
19 August 2004
Employment effect (start)
Foreseen end date
31 December 2004
Description
Getrag All Wheel Drive, which produces transmission components, will cut 385 jobs in Köping. 173 blue collar contracts and about 12 white collar contracts will be cancelled and 140 temporary contracts will not be renewed. A pre-retirement plan will be set up for 60 workers. According to the company, the plan which is to be implemented will consolidate the company's position and set the grounds for further business developments in Köping, where 1,000 jobs will be maintained. On 23 September 2004, although the news was not confirmed yet, the company could reduce the dismissals by 100 to 285 as a result of new orders from Ford and Fiat and the improved prospects published by Volvo, the company's largest client.
Sources
19 August 2004: Press release by GETRAG
11 August 2004: Svenska Dagbladet
23 September 2004: Dagens Arbete
Citation
Eurofound (2004), Getrag All Wheel Drive, Internal restructuring in Sweden, factsheet number 60501, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/60501.
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