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 initiated employer-employee negotiations aiming to cut up to 415 positions in Sweden. The internal restructuring is due to an overcapacity on the steel market which has resulted in lowered prices. Jobs will be cut mainly from SSAB's sites in Borlänge and Oxelösund, with 160 positions being cut in Borlänge and 230 being cut in Oxelösund. The remaining 25 positions will be cut in Luleå and at the headquarters in Stockholm. Both blue-collar and white-collar workers are affected by the restructuring with 265 white-collar jobs being cut and 150 blue-collar jobs. Additionally up to 50 positions will be cut in Finland. In Borlänge redundancies concern only white-collar workers and union representatives are sceptical of the possibility of keeping the site functioning if 160 positions are cut. Union representatives describe the announcement as a major shock, redundancies were anticipated, but the size of this announcement was not anticipated.
Since SSABs merger with Finnish company Rautaruukki, SSAB has cut a total of 1,300 jobs. The ERM has previously reported on internal restructuring at SSAB in 2015 both in Sweden and in Finland.
Update 13/5 2016:Employer-employee negotiations concerning the white-collar jobs have been completed. In total 262 white-collar jobs will be cut, 169 in Borlänge, 72 in Oxelösund and 20 in Luleå. Intially white-collar redundancies where estimated to 265 positions. Negotiations concerning the blue-collar jobs are expected to be completed before the end of May.
Update 13/6/2016:Employer-employee negotiations regarding the blue-collar jobs at SSAB in Oxelösund have been completed. In total 98 permanent blue-colar positions will be cut at SSABs site in Oxelsund. Although this is fewer permanent positions than expected as SSAB intially stated that 150 blue-collar jobs would be cut, 85 additional temporary positions have been cut as well.
Eurofound (2016), SSAB, Internal restructuring in Sweden, factsheet number 86481, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/86481.
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