Swedish high-technology engineering and steelmaking group Sandvik has announced that 429 employees within its Sandvik Materials Technology business area will be dismissed due to the challenging market situation following the Covid-19 pandemic. The layoffs include 349 positions at Sandviken and 80 at Hallstahammar and Surahammar, effective from mid-December and mid-October this year, respectively.
“The Covid-19 pandemic 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,” stated Göran Björkman, president of Sandvik Materials Technology.
Sandvik Materials Technology produces advanced stainless steels and special alloys, covering a large variety of product forms, such as tube, pipe, bar and strip steel.
