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 biometrics company Fingerprint Cards has announced that it will lay off 179 employees, which amounts to nearly half of the company's workforce. The layoffs are expected to reduce annual costs by SEK 350 million (€33.97 million). The president and CEO of Fingerprint Cards comments that these measures are necessary to strengthen the company's competitiveness and return to generating profitable growth.
The company's headquarter is located in Gothenburg, but branch offices can also be found in Stockholm, Linköping and Malmö. It is not stated in which geographical area the measure will be taken place nor when exactly when the employment effect will start. The company announced in a press release that the restructuring costs currently are estimated at approximately SEK 65 million (€6.28 million) and will predominantly be reported in the third quarter of 2018.
Eurofound (2018), Fingerprint Cards, Internal restructuring in Sweden, factsheet number 94282, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/94282.