Restructuring events
European Restructuring Monitor (ERM)
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.
The Norwegian based group Norske Skog, a global manufacturer of lightweight, coated and uncoated newsprint and magazine paper, has announced that it is to cut around 130 jobs at the Norwegian mill at Follum. The job cuts are part of a larger restructuring plan that will affect other Norske Skog’s paper mills world-wide. As of March 2008, there is no information on when the job cuts will be implemented by.
The Norwegian unions protested against the decision to close Follum. Instead they suggested altering the production to other sorts of paper, for example booking paper. At the meeting of the corporate assembly around 100 workers participated in a demonstration, but they only managed to get support from one of the stock holders representatives in addition to the 6 employee representatives.
After the meeting the union leader Stein-Roar Eriksen said to the media that the management and the coroprate assembly had deceived Follum. He also said that the union had to rethink what to do next, and that there has to be changes in the management, board and coroporate assembly.
The union hopes that changes will occur at the elections at the general assembly scheduled for 24 April, as one large owner who is not currently represented in the board or corporate assembly is very critical to the decision.
Eurofound (2008), Norske Skog, Internal restructuring in Norway, factsheet number 66460, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/66460.