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.
Copenhagen (Denmark), Oslo (Norway), Stockholm (Sweden)
Sector
Manufacturing Manufacture For Transport Equipment Manufacture Of Other Transport Equipment 30.3 - Manufacture of air and spacecraft and related machinery
300 jobs Number of planned job losses
Announcement Date
7 September 2012
Employment effect (start)
7 September 2012
Foreseen end date
30 September 2013
Description
On 7 September 2012, ST Aerospace, a specialist in aircraft component repair, management and logistics services, announced plans to restructure its Scandinavian business. The restructuring will affect around 300 employees across all functions in the company’s facilities in Copenhagen (Denmark), Oslo (Norway) and Stockholm (Sweden).
According to the company, these job cuts have become necessary due to the challenging environment in Europe characterized by a weakened domestic travel and cargo demand.
ST Aerospace has announced that it will support the redundant workers through dialogue, counseling sessions and job placement programmes to retrain and equip employees with new skills. As stated in a press release, the company currently works closely with trade unions and employee representatives to offer outplacement programmes to those affected by the internal restructuring.
ST Aerospace is the European subsidiary of ST Aerospace Mobile which is part of Singapore Technologies Aerospace.
Sources
8 September 2012: Business Time (Singapore)
7 September 2012: ST Aerospace
Citation
Eurofound (2012), ST Aerospace, Internal restructuring in European Union, factsheet number 74314, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/74314.
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