EMCC European Monitoring Centre on Change

Ovako

Company/Organisation:
Ovako

Geographic Location

Country: Sweden
Region: Norra Mellansverige
Location of affected unit(s): Hofors

Company

Sector: Manufacturing
Manufacture of basic metals and fabricated metal products, except machinery and equipment
24.1 - Manufacture of basic iron and steel and of ferro-alloys
Number Employed: 1500
Group: SKF

Employment Effects

Announcement Date: 11-10-2003
Planned Job Reductions min: 170
Planned Job Reductions max: 170
Type of Restructuring: Internal restructuring
Direct Dismissals: 170

Additional Information

170 workers will lose their jobs in Hofors, following the decision by Ovaka to reduce its workforce. The CEO of the company has explained that this plan needs to be implemented to ensure the future of the company and to achieve the profit level which has been set. Negotiations with trade unions have started.