Sandvik announces job cuts

November 8, 2011

In a statement issued by Sandvik AB, the company has announced plans to reduce its workforce across the Sandvik Materials Technology and Sandvik Mining and Construction groups. The reduction is a consequence of the Sandvik Group’s new strategic direction and organisation, stated the company.

Sandvik Materials Technology

Following a review of the organisation, a structural redundancy corresponding to 500 employees globally has been identified, of whom about 295 employees are based in Sweden (230 in Sandviken and 65 in Hallstahammar).

One of the objectives of the program is to sustainably reduce the overall cost structure by approximately 500 MSEK over a two to three year period, through such measures as reducing costs for staff and administration in addition to cost optimisation of the sales organisation.

Sandvik Mining and Construction

The Sandvik Mining and Construction business area will be separated into two business areas, Sandvik Mining and Sandvik Construction as of 1 January 2012. The changes are expected to result in a redundancy of 70 employees in Sandviken, Sweden. The global review of Sandvik Mining and Construction’s organization is still in progress state the company.

“Our aim is to complete the work as quickly as possible to shorten the period of uncertainty for our employees,” stated Jonas Gustavsson, President of Sandvik Materials Technology.

The changes are expected to be completed during the first half of 2012.

www.sandvik.com

Edited by: Paul Whittaker, Editor ipmd.net, [email protected]   

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