Sweden's Castellum to cut management, jobs under new Akelius-backed CEO
Swedish property company Castellum AB on Wednesday announced a significant restructuring that will reduce its executive team and cut about 60 jobs at its head office.
The move is part of a cost-cutting drive by new Chief Executive Pål Ahlsén, who was appointed in August following a board overhaul led by top shareholder Akelius Residential Property.
Castellum said its executive management will shrink to 10 positions from 13, with the departures including Chief Financial Officer Jens Andersson, Chief Investment Officer Kristina Sawjani, and Chief Operating Officer Sebastian Schlasberg.
The company plans to eliminate approximately 45 employee and 15 consultant roles and will discontinue its employee bonus scheme in 2026.
These measures are expected to generate annual cost savings of around 50 million Swedish kronor, with the full effect anticipated in 2026, according to the company.
"We are adjusting our organisation, which has become too large," CEO Pål Ahlsén said in a statement.
"These are tough but necessary changes."
The restructuring aligns with Ahlsén's recently announced "Back to Basics" strategy, which focuses on leasing and reducing expenses amid rising vacancies and falling income from property management.
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