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.
Haldex, manufacturer of vehicle parts, is to lay off 105 workers in Sweden by mid 2009. 80 jobs will be cut in the company’s brake system operations and 25 jobs will be cut in the operations involving all-wheel drive systems (Traction). The lay offs are to adjust the company's cost structure to declining demand and increase production efficiency. As a feature of the cost-reduction program, the global workforce will be reduced by 700 employees no later than mid-2009.
Haldex, headquartered in Stockholm, Sweden, is a provider of proprietary and innovative solutions to the global vehicle industry, focusing on products in vehicles that enhance safety, environment and vehicle dynamics. Haldex is listed on the Stockholm Stock Exchange and has annual sales of nearly 8 billion SEK with a total of 6,000 employees.
Eurofound (2008), Haldex Traction Systems Divison, Internal restructuring in Sweden, factsheet number 67393, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/67393.