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.
Yorkshire and the Humber; South Yorkshire; Sheffield
Location of affected unit(s)
Sector
Manufacturing Manufacture Of Basic Metal And Fabricated Metal Products Manufacture Of Basic Metals 24.52 - Casting of steel
110 jobs Number of planned job losses
Announcement Date
23 April 2009
Employment effect (start)
Foreseen end date
Description
Outokumpu, a Finnish owned steel company has announced that it is to cut 110 jobs in Sheffield only four months after cutting 50 posts. The company's sales dropped 60% and it reported first quarter losses of 252 million Euro. It has linked the job cuts to the worldwide recession which has caused a reduction in orders. It plans to reduce annual stainless steel production by 150,000 tonnes. No details were gven on numbers currently employed on site or the date by which job losses are expected to be completed.
Sources
23 April 2009: BBC Website
Citation
Eurofound (2009), Outokumpu, Internal restructuring in United Kingdom, factsheet number 68778, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/68778.
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