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.
The Norwegian automotive and real estate company Bertel O. Steen cuts 200 jobs due to a decrease in car sales so as to save NOK 200 million (€20.44 million). The Norwegian market has experienced a quick shift from gas and diesel vehicles to electric vehicles. Personnel within sales and manufacturing are at most risk of losing their jobs. While some of the jobs will be cut through hiring freeze and natural retirement, direct dismissals will also take place. The company has started with the redundancies that will last until 2020.
The company was established in 1901 and has its headquarters in Lørenskog municipality. The company is undergoing a larger restructuring due to the changing market situation.
Eurofound (2019), Bertel O. Steen , Internal restructuring in Norway, factsheet number 97773, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/97773.