Green Cargo

Type
Internal restructuring
Country
Sweden
Region
Location of affected unit(s)
Sector
Transportation / Storage
Land, Water And Air Transportation
Land Transport And Transport Via Pipelines
49.2 - Freight rail transport
500 jobs
Number of planned job losses
Job loss
Announcement Date
21 January 2014
Employment effect (start)
21 January 2014
Foreseen end date
21 January 2016

Description

Swedish state owned railway freight company Green Cargo is to reduce its workforce by 600 employees until 2016.

This is part of a cost-savings plan that was drafted after the company had made a net loss of EUR 15 million in 2013. Reasons for the bad result include increased competition from foreign truck drivers that have taken a big market share in domestic transport in Sweden.

In 2011, the ERM reported on a planned job creation at Green Cargo Logistics in Sweden.

UPDATE, 06-03-2014:

According to new sources, the company is to cut 500 jobs instead of the 600 reported in January.

Sources

  • 5 March 2014: Sveriges Radio
  • 21 January 2014: SVD.se

Citation

Eurofound (2014), Green Cargo, Internal restructuring in Sweden, factsheet number 76502, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/76502.