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Cargotec Oyj Announces Operation Restructuring within Hiab Potentially Resulting in Reduction of Approximately 250 Employees Globally


Thursday, 24 Oct 2013 06:00am EDT 

Cargotec Oyj announced that the Company is planning to restructure operations in Hiab business area in order to improve profitability, to speed up the strategy implementation and to ensure long-term competitiveness in the global markets. According to initial estimates, the planned measures could result in the reduction of approximately 250 employees globally, of which 45 in the Netherlands, 35 in Sweden, 12 in Finland, and 158 in other countries. The planned measures are estimated to incur savings of approximately EUR 20 million and to result in estimated EUR 12 million in restructuring costs. Cargotec employs approximately 10,000 people globally, of which 3,000 people in Hiab. 

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11:29am EDT