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.
The Kongsberg Group is implementing a restructuring programme by merging two units into Kongsberg Defense & Aerospace, resulting in the loss of 130 jobs. Kongsberg Protech Systems (KPS), which makes remotely operated weapon systems for tanks, submarines and military vehicles, and Kongsberg Defense Systems (KDS), which develops and manufactures rockets and missile systems (including NSM and JSM), will merge into Kongsberg Defense & Aerospace from 1 October 2017.
The restructuring programme aims to reduce costs by about 100 million NOK (approximately €106 million as of 13 September 2017) and will affect 130 employees, according to Kongsberg's communications manager. Voluntary job reduction measures will be preferred and severance packages will be offered to all employees. Some employees may be transferred to other units of the Kongsberg Group. This process is expected to take several weeks. If it does not yield results, the company will resort to direct dismissals.
Eurofound (2017), Kongsberg Defense & Aerospace, Merger/Acquisition in Norway, factsheet number 91885, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/91885.
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