The company had been underperforming during recent years, driven by a significant market downturn combined with internal problems. OPX Partners supported the CEO to develop and implement an overall contingency program, including:

• Hands-on support to business unit managers and their teams in developing cost cutting initiatives with full buy-in and confidence in targets from management

• Support to bank discussions

• Detailing of plans and tracking tools

• Execution and program management office support to secure savings realization

The program resulted in a detailed plan with identified savings of SEK ~150 million to be realized within six months. Execution included management changes, reduction of ~250 FTEs, reduction of indirect costs and a plan to turn around or exit unprofitable products and markets.