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.
Kverneland Group, specializing in manufacturing of plows and other agricultural tools, headquartered in Klepp, Norway, has announced a job reduction equivalent to 70 full-time positions. The reductions affect both operators and white-collar workers at their production site in Øksnevad and are scheduled for August-September.
The restructuring decision was driven by a decline in order volume, attributed to high inventory levels and increased capital costs in distribution. At the time of the announcement, the company had already conducted temporary job reduction measures including furloughs, affecting around 70 full-time positions. Despite these measures, they are now facing the need for permanent cuts of about the same size. Selection criteria will be discussed with union representatives in the coming weeks and the company aims to implement voluntary measures to mitigate the extent of direct dismissals.
Kenneth Olsen, trade union representative at the affected factory, expressed that the ongoing situation is distressing and regrettable. The union and company management are in ongoing discussions to ensure a fair process in deciding which employees will be affected, prioritizing seniority, competence, and social circumstances.
Owned by the Japanese corporation Kubota, Kverneland Group has 2800 employees in 17 companies, of which 450 are located in Norway. The company has a diverse product range including agricultural tools for soil preparation, grass, sprayers, and spreaders, as well as associated electronics and digital services.
Eurofound (2024), Kverneland Group, Internal restructuring in Norway, factsheet number 201106, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/201106.
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