Sandvik Coromant plans layoffs in Sweden
Product DetailsSandvik Coromant has decided to initiate negotiations with the local organization of the Swedish Metalworkers' Union regarding a surplus of about 250 persons at the plants in Gimo. The notice period is six months. The company said an increasing number of leading indicators suggest that the weak trend in the world economy could be lengthy. In response, the company wants to adjust capacity and resources to lower demand.
Sandvik makes tools for metalworking, machinery and tools for rock excavation, stainless steel, special alloys and resistance heating materials and process systems. The group has 35,000 employees in 130 countries, with annual sales of approximately SEK 44 billion.
Sandvik Coromant is a sector within the Sandvik Tooling Business Area and a producer of ...