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.
Svenskt Stål aktiebolag (SSAB), a Nordic manufacturer of commercial steel, has announced plans to cut 270 positions at its sites in Borlänge and Virsbo in Sweden.
220 jobs will be cut in Borlänge due to relocalisation of the production to Finland and other sites in Sweden, and 50 jobs are to be cut at the Virsbo site as the company's production of line pipes is being discontinued. The cutbacks are a consequence of the merger in 2014 with Finnish company Ruukki, which initially led to around 900 people being made redundant in Sweden, Finland and Romania.
For previous cases of restructuring at SSAB, see the following ERM-factsheets: 2012a, 2012b, 2012c and 2008.
Eurofound (2015), SSAB, Merger/Acquisition in Sweden, factsheet number 84684, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/84684.