Preem announces planned redundancies

The corona crisis has led to a sharp decline in demand for refined products and the economy is expected to take time to recover. Preem has therefore decided to adapt and streamline its workforce, and has announced plans to make 130 employees redundant.

“The slowdown in the global economy has had a major negative impact on international industrial companies, which has not only affected Preem, but our entire industry,” says Magnus Heimburg, President and CEO of Preem. “As a direct consequence of developments in the outside world, and in order to ensure business continuity over time, Preem’s management has come to the conclusion that redundancies are necessary.”

An overall organizational review has recently been carried out for Preem AB in Sweden. The result of the review means that Preem will today notify 130 permanent employees of their redundancy, which corresponds to approximately 10 percent of the workforce. The number notified is an initial estimate of how many employees may be affected.

“The announcement will not affect our production capacity. And we will continue to ensure that we have the workforce needed to maintain our operations. We also stand by our long-term goals and strategy to implement the transition to large-scale, renewable production,” Magnus Heimburg continues.

For more information, please contact Preem’s press team on 070-450 10 01 or at press@preem.se. 

PREEM is Sweden’s largest fuel company. Our vision is to lead the transition toward a sustainable society. By 2030, Preem will produce 5 million cubic meters of renewable fuels, and to achieve climate neutrality by 2045. Preem’s two refineries are among the most modern and environmentally friendly in Europe with a refining capacity of over 18 million cubic meters per year. Our business includes production, sales, distribution, as well as trading and the sale of goods. We refine and sell fuel, heating and lubricating oil as well as other products to companies and individuals. Most of our products, almost 80 percent, are exported to the international market, mainly to northwestern Europe. We have a nationwide service network with 570 filling stations for private and commercial traffic. Preem AB has just over 1,500 employees, of which 950 work at our refineries. In 2019, Preem’s turnover was SEK 96 billion.