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.
Sandvik has announced its plan to cut 429 jobs due to the effects of the COVID-19 pandemic. Up to 349 of them are located in Sandviken, while 80 employees are in Hallstahammar and Surahammar.
The workers going to be dismissed operates in the Materials Technology department of the company. The internal restructuring will address both white-collar and blue-collar employees.
The company argues that restructuring is needed in order to adapt to the uncertain market and to the lower production volumes. Sandvik expects the COVID-19 pandemic to have long-term effects on the market. The planned dismissals are part of a savings program the company launched in March 2020. The estimated savings amount to approximately SEK 1 billion by 2021 (approximately €95 million).
Sandvik is an engineering company, employing a workforce of about 40,000 people and selling products and services in more than 160 countries.
Eurofound (2020), Sandvik, Internal restructuring in Sweden, factsheet number 100922, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/100922.
This working paper offers a comprehensive methodological overview of the European Restructuring Monitor (ERM) databases. Even though the methodology has not changed over time, new categories have been added, and the way it has been used by researchers and policymakers...
This Eurofound research paper explores key trends in restructuring in recent years, highlighting the companies that announced the largest job losses and job gains in the EU. It builds on an analysis of company announcements recorded in Eurofound’s European Restructuring...
In 2023, thousands of workers in big tech lost their jobs. Meta, Amazon, Google, Apple, Microsoft and Salesforce had been considered to offer good and secure jobs up to this point. Giants of the information and communication technology (ICT) sector,...
In 2024, the automotive sector in the EU came to the fore in public and policy discussions. The focus was on the slowdown in electric vehicle (EV) sales, rising global competition, belated investments in new technologies, and the potential closure...
The more employee monitoring resembles surveillance – with its systematic, continuous and detailed tracking of employees' activities, behaviours or communications – the greater the potential for infringement of both privacy and data protection rights. Although the EU General Data Protection...
Since 2013, Eurofound's ERM database on restructuring-related legislation has been documenting regulatory developments in the Member States of the European Union and Norway which are explicitly or implicitly linked to anticipating and managing change. The most recent update to the...
