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.
Automotive Components Floby, the Swedish company that manufactures products for the automotive industry, has announced the dismissal of 100 employees. Both white-collar employees and blue-collar employees will be affected by the jobs cut.
According to the company, this internal restructuring is needed since the demand for Automotive Components Floby's products has decreased as a result of the effects of the COVID-19 pandemic on the market. The company added that during spring 2020 it has utilised the temporarily layoff system that is available to avoid layoffs to the greatest extent possible, having then to opt for notifying the said dismissals to cope with the COVID-19 crisis.
Automotive Components Floby was founded 1957 and operates in the field of production of brake discs, wheel hubs and connecting rods for third manufacturing companies. In 2018 its workforce was of 563 staff, mainly in Sweden, but also with an operational side in Shanghai.
Eurofound (2020), Automotive Components Floby, Internal restructuring in Sweden, factsheet number 100823, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/100823.
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