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.
Manufacturing Manufacture For Transport Equipment Manufacture Of Other Transport Equipment 30.99 - Manufacture of other transport equipment n.e.c.
375 jobs Number of planned job losses
Announcement Date
2 October 2012
Employment effect (start)
Foreseen end date
Description
Cargotec, Finish manufacturer of cargo-handling machinery, has announced plans to cut up to 375 jobs globally. According to the company these job reduction measures are part of an internal restructuring process.
The majority of job losses will affect operations in Finland with 130 job cuts (see here), followed by up to 165 in Sweden and 80 in other countries.
The company had initially said to cut only 30 jobs in Sweden, but then announced additional 130 job reductions in its Lidhult multi-assembly unit in Sweden (see here). This is due to its plans to centralise the company’s activities in its multi-assembly unit in Stargard Szczecinski in Poland.
Sources
2 October 2012: Cargotec
15 October 2012: Cargotec
2 October 2012: Reuters
Citation
Eurofound (2012), Cargotec, Internal restructuring in World, factsheet number 74467, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/74467.
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