This master’s thesis surveys and compares changes in industrial relations and collective bargaining models in Sweden and Norway following the turn of the millennium, with specific attention to organised employers’ roles in change. The comparative case-study outlines relevant developments and characteristics in industrial relations in these countries over the last two decades. The thesis relates to ongoing debates within the research fields of comparative political economy and industrial relations studies, revolving around ‘liberalisation trajectories’ of Western industrial relations. Through comparison, it is assessed which competing arguments within these debates best describes and explain Swedish and Norwegian development trajectories.