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.
Nortura, Norway's largest supplier of meat and eggs, has announced a three-year restructuring programme which will cut around 300 positions in several locations. This is a response to weak economic results after Nortura reorganised its distribution and to the fact that production capacity for several animals, meat sorts and eggs now exceeds marked demand. The restructuring aims to reduce costs by NOK 500 million (approximately €5.2 million) and will cut 20% of the current 1,500 posts in administrative and support functions. The company aims to use job reduction measures such as severance packages, early pensions and natural wastage as far as possible. Nortura is a cooperative owned by 19,000 farmers. Net payments to the farmers will be negatively affected too. The details of the restructuring will not be clarified until formal talks with union representatives begins in February. Main shop steward Kenneth Johansen, who represents 2,500 Nortura employees, has been informed of the company's economic situation and concedes that a restructuring is needed. He says the planned cuts will affect the whole organisation and describes them as serious.
Eurofound (2018), Nortua , Internal restructuring in Norway, factsheet number 93076, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/93076.