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.
SAS Component is a joint venture of Singapore Technologies Aerospace (67%) and SAS Technical Services (33%). Until 1.1.2006 the company was 100% owned by SAS. The company provides material supply programmes and repair services to SAS and other airline companies. SAS Component employs approx. 1,000 people in Scandinavia, whereof 310 in Norway, and has its headquarters at Copenhagen Airport, Denmark. Large facilities are located at Arlanda Airport, Sweden, and at Gardermoen and Stavanger Airports in Norway.
On 11 July 2006 the Board decided to close down their unit at Stavanger Lufthavn, Sola. This follows the decision in June by SAS Technical Services's (STS) to close its production base at the same airport to focus its operations for aircraft maintenance around the three main airports in Scandinavia (see fact sheet on SAS Technical Services). The chairman of the Board of STS said then: "The market, which is characterized by global players and competitors from countries with low production costs, demands a lower level of prices. We are not able to lower our prices unless we reduce our cost levels."
The closing down of SAS Components at Stavanger Lufthavn means that further 100 employees will loose their jobs at this airport in addition to the 265 in STS within this year. These closing downs will lead to more job reductions at Stavanger Lufthavn. On 12 July 2006 the 20 employees in SAS Facilities at the airport were told that they would lose their jobs as a consequence of the other closings. The regional newspaper Stavanger Aftenblad reported in an article on 12 July 2006 the possible total reduction of 800 employees within the SAS group and many hundreds within local suppliers.
Details of the conditions for the SAS Component employees that will lose their jobs are not indicated in the newspapers. In STS it will be implemented a program for assisting the employees in finding new jobs and all of the employees will receive salary the year out. STS employees over 59-years of age are guaranteed continued employment in the SAS Group. Supposedly similar arrangements will be made for the employees of SAS Components.
Eurofound (2006), SAS Component, Internal restructuring in Norway, factsheet number 63829, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/63829.
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