The aim of this study is to analyse the content of the industrial relations system concerning employment protection and how the development relates to the Swedish model. Has it changed fundamentally between 1995 and 2012 and have those changes meant that the regime has changed too, or have they been in line with the model, and the model thus malleable? How have changes been made politically acceptable? Have the economic crises of the 1990s and the 21st century paved the way? Judging from the evidence, there have been comparatively few changes to employment security in Sweden and the changes made have either been in line with the model, or if not, made in times of severe crises which made it possible for social democrats and trade unionists to argue for the changes, and made in a way that was in line with the model, i.e. mutual agreements.