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.
Finnish crane manufacturer Cargotec Hiab plans a job reduction of 150 at its site in Hudiksvall. This includes 125 positions in manufacturing and 25 in white-collar positions.
The job loss is due to the partly offshoring of production in Hudiksvall to Poland. Departments remaining in Hudiksvall are sales and R&D.
According to the company, the restructuring is part of plans to increase profitability in a highly competitive market. Cargotec wishes to reduce operational costs by EUR 11 million until 2016.
The ERM previously covered restructurings at Cargotec Hiab in Sweden in 2012, 2011 and 2008.
Update 2014/05/26: Cargotec Hiab has concluded negotiations with trade unions and the actual job reduction will now be 110, reduced from 150. The company has also announced an investment of SEK 20 million (€2.2 million) at the R&D department in Hudiksvall.
Eurofound (2014), Cargotec Hiab, Offshoring/Delocalisation in Sweden, factsheet number 76614, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/76614.
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