“Företagsvändningar” is a study about turnarounds in Swedish companies during the years 2002-2010. The study was trying to find explanations on how Swedish companies have made their turnarounds. Six companies were found to have made turnarounds. Four of these came from the IT-industry and these four companies were chosen as the subjects for the study. The study searched for explanations in financial reports from the chosen companies between the years of their turnaround period, which was 6-7 years. Findings were made that the Swedish IT-companies actions during their turnaround period were the use of retrenchments and strategic transformations. The study presented an indication for how different explanations were found to the turnarounds. The differences of the explanations were depending on if you choose to study the explanations or the actions of the companies. If the study explained the turnarounds based on the explanations of the companies it was found that retrenchment had a bigger part in the earlier stages of the turnaround and strategic transformation had a bigger part in the later stages of the turnaround. If the study explained the turnarounds based on the companies actions it was found that strategic transformation and retrenchment played a big part during the whole turnaround.