Ovako

Type
Internal restructuring
Country
Sweden
Region
Norra Sverige; Norra Mellansverige; Gävleborgs län
Location of affected unit(s)
Hofors
Sector
Manufacturing
(24 - 25) Manufacture of metals
24.1 - Manufacture of basic iron and steel and of ferro-alloys
24.1 - Manufacture of basic iron and steel and of ferro-alloys
170 jobs
Number of planned job losses
Job loss
Announcement Date
11 October 2003
Employment effect (start)
Foreseen end date

Description

170 workers will lose their jobs in Hofors, following the decision by Ovaka to reduce its workforce. The CEO of the company has explained that this plan needs to be implemented to ensure the future of the company and to achieve the profit level which has been set. Negotiations with trade unions have started.

Sources

  • 11 October 2003: Dagens Nyheter

Citation

Eurofound (2003), Ovako, Internal restructuring in Sweden, factsheet number 58977, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/58977.