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.
Due to an ongoing restructuring, industrial electronics company Hapro is to dismiss additional 125 employees in its plant in Mohagen, Norway. 115 employees were dismissed in 2012 (see Hapro2012).
The main reason for the restructuring was that Hapro lost its biggest client, Cisco, who decided to move production to low-cost countries. For Hapro, this leads to substantial orders withdrawal and subsequent loss of income. The company operates within a vulnerable industry and was greatly dependent on orders from Cisco, which accounted for more than half of Hapro's revenue.
By the end of August, it will be clear which employees are being dismissed. The need for staff reduction has been known to employees for some time, but union representatives still expressed some surprise about the high number of direct dismissals. All dismissed employees will be given individual counseling and assistance in finding new jobs.
Hapro will retain 340 employees after the restructuring is finished. Despite two years of decline, the company expects to stabilize its situation and express ambitions to expand in the longer term.
Eurofound (2013), Hapro Hadeland, Internal restructuring in Norway, factsheet number 75768, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/75768.
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