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 producer of paper products Stora Enso has initiated employer-employee negotiations at the Kvarsveden mill in Borlänge, Dalarna County aiming to cut up to 140 positions, out of the total number of 525 employees working at the mill. Stora Enso has a total of 1491 employees in Sweden. Redundancies are due to the planned closure of paper machine 8, which will happen by the end of the second quarter of 2017. The reason for this closure is that paper machine 8 is viewed as small, technically old and no longer competitive. The internal restructuring will save €12 million yearly. The restructuring will cost approximately €17 million to the company.
The ERM has most recently reported on 47 redundancies at Stora Enso in Finland in November 2016.
Eurofound (2017), Stora Enso, Internal restructuring in Sweden, factsheet number 90334, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/90334.