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 Scandinavian Tobacco Group announced on 23 October 2018 that 120 employees will be dismissed as part of a global savings plan. The company director calls the initiative "Fuelling the Growth"; the aim is to ensure that the company is more competitive and able to adapt to changing market conditions.
The company can not yet state which countries will be touched by the redundancies. In addition to the redundancies, the group is planning to optimize logistics and to set up a a global procurement department to reduce production costs.
In September 2016, the company closed a cigar factory in Nykøbing Falster (100 jobs). At the same time, a factory in Belgium was closed, so the number of production sites went from 14 to 12. Two months later, the company dismissed150 workers in Europe.
Eurofound (2018), Scandinavian Tobacco Group, Internal restructuring in World, factsheet number 95792, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/95792.
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