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.
Electronics manufacturer Kitron will reduce the staff at its facility in Arendal, Norway by 80-90 positions this year. Kitron is a leading Scandinavian manufacturer of medical electronics and military communications equipment, with 1200 employees in Lithuania, Sweden, China and USA. The facility in Arendal is its largest.
Kitron announced in march 2014 that it would probably need to restructure due to a drop in demand from a big customer, estimating a cut of between 60 and 100 positions. In August, CEO Dag Songedal confirmed that the reductions this year will amount to between 80 and 90 employees losing their jobs. Some will not have contracts renewed, while others will be dismissed. High and rising Norwegian salaries in combination with stiff competition from abroad is the main challenge, according to the CEO.
Eurofound (2014), Kitron, Internal restructuring in Norway, factsheet number 77424, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/77424.
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