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.
Mining / Quarrying Mining And Quarrying Mining Of Metal Ores 07 - Mining of metal ores
100 jobs Number of planned job losses
Announcement Date
21 April 2015
Employment effect (start)
Foreseen end date
Description
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.
Sources
21 April 2015: Svenska Dagbladet
Citation
Eurofound (2015), LKAB, Internal restructuring in Sweden, factsheet number 79327, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/79327.
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