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.
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.
Eurofound (2012), ST Aerospace, Internal restructuring in European Union, factsheet number 74314, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/74314.