Gunnebo Security Group has decided to down-size its Spanish operations. The
action is done in order to align scope and size of the business with the
country’s current market situation.
Gunnebo has noted a negative development of the Spanish security market over the
past few years. The development is connected to the overall stand-still that has
characterized the Spanish economy for the past three-four years.
“Gunnebo Spain has been suffering continued losses during the past three years.
Since we don’t see that the marketplace will support a quick recovery within the
next few years, we have now reached to a point where it is necessary to do
substantial down-sizing,” says Gunnebo’s president and CEO Per Borgvall.
Due to the situation above, conversations with legal representatives for
employees in Gunnebo Spain were initiated earlier in the week. Gunnebo intends
to reduce 1/3 of the headcount. Today, Gunnebo Spain has some 350 employees.
“However, we want to maintain our position on the Spanish security market and
has therefore decided to re-work the business model, focus on new market
opportunities and leave business that is not profitable”, states Per Borgvall.
GUNNEBO AB (publ)
Per Borgvall, CEO and President Gunnebo AB, tel. +46 10 2095 000 or Karin
Wallström, Communication Manager & IR Director, Gunnebo AB, tel. 46 10 209 5026,