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.
Norwegian ferry operator Fjord Line will no longer operate the ferry route between Sandefjord in Norway and Strömstad in Sweden, and will make redundant at least 220 employees in Norway and Sweden.
This is due to the route "not supporting Fjord Line's vision and long-term strategy", which includes a strategic decision to focus on routes between Norway and Denmark. Around 220 jobs are cut, including both sailors and on-land employees, in Norway and Sweden. The Norwegian Seafarers Union state that 100 of their members are affected. The number of direct dismissals was not announced and is subject to deliberation with the unions.
Trade union representative Renato Stojnic states that the closure came as a complete surprise for the employees and that many were deeply shocked as the company up until as recently as a month before the closure indicated that the route was operating with profit. The closure was originally announced from 29 October, but the last crossing was conducted on 24 October. The early closure was attributed to the sale in the onboard shop going better than expected with stock running out fast.
The related restructuring plan in Norway was recorded in the ERM events database Fjord Line-2023-NO.
Eurofound (2023), Fjord Line, Internal restructuring in World, factsheet number 200537, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/200537.
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