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.
Vaexjoe (Smaland med oearna), Eskilstuna (Oestra mellansverige), Hallsberg (Oestra mellansverige) and Arvika (Norra mellansverige)
Sector
Manufacturing Manufacturing Of Machinery And Equipment Manufacture Of Machinery And Equipment N.E.C. 28.92 - Manufacture of machinery for mining, quarrying and construction
450 jobs Number of planned job losses
Announcement Date
20 March 2014
Employment effect (start)
Foreseen end date
15 April 2014
Description
Swedish construction equipment manufacturer Volvo Construction Equipment plans to cut 450 jobs at different sites in Sweden. This is to affect mainly production workers. Sites affected are in Växjö (Småland med öarna), Eskilstuna (Östra mellansverige), Hallsberg (Östra mellansverige) and Arvika (Norra mellansverige). The internal restructuring is due to the low profitability of production.
The company has not given notices as it is hoping that there will be enough voluntary departures. Those leaving voluntarily will receive a severance payment. Volvo hopes that the job reduction will be executed by April 2014.
The ERM previously reported restructuring events at Volvo Construction Equipment in 2008, 2009, 2010 and 2012.
Sources
20 March 2014: Dagens Industri
Citation
Eurofound (2014), Volvo Construction Equipment, Internal restructuring in Sweden, factsheet number 76737, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/76737.
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