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.
On 6 March 2015, Sandvik Mining and Construction announced its plans to restructure the company’s operations in Zeltweg, Styria. The restructuring will result in a total of 51 job losses.
Sandvik Mining and Construction is a subsidiary of the Swedish Sandvik Group, a global provider of products and services for the mining and construction industry. The site in Zeltweg is producing machinery for the mining industry and tunnel construction. Reasons for the restructuring are a substantial drop in sales during the past two years, especially in the area of 'coal and minerals' which is an essential business sector for the production site in Zeltweg. However, Zeltweg is going to stay a competence centre for 'continuous mining'.
Currently, 450 workers are employed at the site, 51 of them have been registered with the public employment services' (AMS) early warning system. Job losses will affect production as well as other parts of the company. Negotiations with trade unions and the local works council are planned for the upcoming days.
Eurofound (2015), Sandvik Mining and Construction, Internal restructuring in Austria, factsheet number 78793, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/78793.
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