Singapore Technologies Engineering’s (ST Engineering) aerospace unit in Europe may cut 300 jobs as a result of a restructuring programme.
In a media statement released on Friday, ST Engineering says the restructuring was necessary in order to cope with weak domestic travel and cargo demand in the region.
As a result, ST Aerospace Solutions (Europe) needed to “manage its cost structure and work processes in order to maintain its position in the European market”.
ST Aerospace Solutions intends to streamline the utilisation and workflow of its three facilities in Copenhagen, Denmark; Oslo, Norway as well as Stockholm, Sweden.
The restructuring exercise will impact 300 employees across different functions, and is expected to be completed by the third quarter of 2013.
ST Aerospace Solutions is a specialist in aircraft component repair, management and logistics services.
The firm added that it will work closely with trade unions and employee representatives to offer outplacement programmes to affected employees.