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 technology company Devport has announced its plan to dismiss up to 50 employees. The company is based in Gothenburg and it currently employs approximately 350 people.
Many of the company’s clients are manufacturers of cars and other vehicles which is an industry where the impact of the COVID-19 crisis has been significant. This has decreased the demand for products and services provided by the Devport. During the second quarter of 2020, Devport's revenue decreased by 42% in comparison to last year.
The company estimates that the effects of the COVID-19 will be long-lasting, and demand will not increase before the end of 2020 or the beginning of 2021.
Eurofound (2020), Devport, Internal restructuring in Sweden, factsheet number 101558, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/101558.
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