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.
With an operating revenue of over NOK 4.8 billion in 2005, EDB is a leading IT group in the Nordic region. The group had over 3,900 employees at the start of 2006, whereof 2500 in Norway and 1400 in Sweden. EDB is structured as an integrated group, with EDB Business Partner Norge AS and EDB Business Partner Sverige AB as the operational companies. There are two business areas. The Solutions business area delivers software solutions and services for the public sector, the banking and finance industry and niche products for telecommunications operators. IT Operations business area delivers IT operating solutions for many of the largest Nordic corporations and tailored operations concept for small and medium-size businesses, and IT services across all industries and sectors.
A need for restructuring was announced 18th July in connection with the announcements of economic results for 2nd quarter. On 22nd of August the downsizing plan was announced. The IT Operations business area's headcount will be reduced by around 175, with reductions in other units totalling around 65 employees. The rationalisation measures will reduce annual personnel costs by around NOK 100 million. More employees will be affected by the restructuring, but these will be offered alternative jobs within the company. The Swedish company will not be affected as this company already has downsized by ten percent during the last year.
Employees affected by the downsizing will be offered redundancy packages in excess of normal salary for their notice periods. The amounts involved will vary depending on age and seniority. In addition, all affected employees will be offered career guidance and other personal support. The downsizing is planned to be carried out within 1st October 2006.
Eurofound (2006), EDB Business Partner Norge AS, Internal restructuring in Norway, factsheet number 63954, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/63954.
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