Sandvik Announces Layoffs in Sweden Within Sandvik Materials Technology

STOCKHOLM, June 16, 2020 /PRNewswire/ -- As communicated in the quarterly report for the first quarter, saving measures have been initiated throughout Sandvik due to the challenging market situation following the COVID-19-pandemic. Today, Sandvik gave notice of layoffs in Sweden for 429 positions within its business area Sandvik Materials Technology.

The layoffs, which include 349 positions in Sandviken and 80 in Hallstahammar and Surahammar, affect both white-collar and blue-collar employees. The layoffs are estimated to come into effect earliest as of mid-October 2020 in Hallstahammar and Surahammar and mid-December 2020 in Sandviken.

"The reason behind the decision is based on the continued uncertainties in our global market environment caused by the COVID-19-pandemic, which forces us to adjust to lower volumes and to better position our company for the future. We are expecting to see a weak market situation going forward and need to act in time to protect our business," says Göran Björkman, President for Sandvik Materials Technology.

Sandvik Materials Technology has about 3300 employees in Sweden, of which about 2900 in Sandviken and 380 in Hallstahammar and Surahammar.

For further information, contact
Anna Vilogorac
Investor Relations Officer
phone: +46-8-456-11-94 or

Martin Blomgren
Press and Media Relations Manager
phone: +46-70-577-0549.

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SOURCE Sandvik