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.
Swedish agricultural machinery manufacturer Väderstad has given notice to 100 employees at their site in Väderstad as a result of loss of sales to Ukraine and Russia. The Ukrainian and Russian markets stand for around 20pc of Väderstad's sales, and the conflict between the two countries has reduced their sales significantly. The company is also reducing its production capacity in order to adapt to the new situation.
The planned job reductions will affect 55 white-collar workers and 45 blue-collar workers. The union has been involved in the negotiations. "It is important that we adapt to reality. It will be hard. We must take into account the employees who lose their jobs, but also think about the future for those who remain" said union representative Jan-Erik Olovsson.
Väderstad was founded in 1942 and employs a total of 1,000 employees of which 800 are in Väderstad, Sweden.
Eurofound (2014), Väderstad, Internal restructuring in Sweden, factsheet number 77565, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/77565.