EMCC European Monitoring Centre on Change

SSAB

Company/Organisation:
SSAB

Geographic Location

Country: European Union
Location of affected unit(s): Sweden, Finland, Romania

Company

Sector: Manufacturing
Manufacture of basic metals and fabricated metal products, except machinery and equipment
24.51 - Casting of iron
Number Employed: 8480

Employment Effects

Announcement Date: 22-01-2014
Planned Job Reductions min: 900
Planned Job Reductions max: 900
Type of Restructuring: Merger/Acquisition

Additional Information

Swedish steel producer SSAB and Finnish steel producer Rautaruukkis have announced a merger of the companies which means that five percent of their 17,000 combined workforce, 900 persons, will be made redundant. The exact timeline of the restructuring is not yet announced but SSAB announced that it will happen over three years. It is not decided how and at what sites the restructuring will take place.  

Update (November 2014): Following the merger of SSAB and Rautaruukkis earlier in 2014, Ruukki Romania, the Romanian subsidiary of Finnish steel producer Rautaruukkis, has announced in October 2014 plans to close its plant in Bolintin-Deal, Romania, and cut 110 jobs as a result of its internal restructuring processes before the end of 2014. On top of the foreseen job losses, a further 50 will be relocated to the company’s Tunari plant. The ERM has reported on the job losses in Romania here.