EMCC European Monitoring Centre on Change

Sandvik

Company/Organisation:
Sandvik

Geographic Location

Country: Sweden
Region: Östra Mellansverige
Location of affected unit(s): Sandviken, Surahammar, Hallstahammar

Company

Sector: Manufacturing
Manufacture of basic metals and fabricated metal products, except machinery and equipment
24 - Manufacture of basic metals
Number Employed: 3300

Employment Effects

Announcement Date: 16-06-2020
Planned Job Reductions min: 429
Planned Job Reductions max: 429
Type of Restructuring: Internal restructuring
Employment Effect Start: 15-10-2020

Additional Information

Sandvik has announced its plan to cut 429 jobs due to the effects of the COVID-19 pandemic. Up to 349 of them are located in Sandviken, while 80 employees are in Hallstahammar and Surahammar.

The workers going to be dismissed operates in the Materials Technology department of the company. The internal restructuring will address both white-collar and blue-collar employees.

The company argues that restructuring is needed in order to adapt to the uncertain market and to the lower production volumes. Sandvik expects the COVID-19 pandemic to have long-term effects on the market. The planned dismissals are part of a savings program the company launched in March 2020. The estimated savings amount to approximately SEK 1 billion by 2021 (approximately €95 million).

Sandvik is an engineering company, employing a workforce of about 40,000 people and selling products and services in more than 160 countries.

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