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 iron mining company LKAB has announced a reduction of 100 white collar service jobs from its facilities in northern Sweden.
This announcement is part of a larger long-term restructuring program to tackle the falling prices of iron ore which was announced in February 2015.
The restructuring program aims to save SEK 700 million (€75,292,983) during 2015 and involves a total reduction of 400 jobs over the whole year, mostly through planned retirements and the reduction of temporary positions.
Last time ERM reported on a restructuring in LKAB was in October 2014 when the company announced a business expansion of 500 jobs.
LKAB is government owned and employs around 4,100 people of whom 600 outside of Sweden.
Eurofound (2015), LKAB, Internal restructuring in Sweden, factsheet number 79327, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/79327.