The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacturing Of Machinery And Equipment Manufacture Of Machinery And Equipment N.E.C. 28.11 - Manufacture of engines and turbines, except aircraft, vehicle and cycle engines
100 jobs Number of planned job losses
Announcement Date
9 June 2022
Employment effect (start)
1 July 2022
Foreseen end date
30 September 2022
Description
Swedish cleantech company Azelio announced its plan to cut 100 job positions. The company is based in Gothenburg and the planned job cuts correspond to approximately 50% of the company's workforce. Job cuts will begin in July.
According to the company, restructuring is needed in order to save 150 million SEK (€15 million) annually.
Azelio is a clean-tech company that develops technology that can be used to store energy.
Updated, 01/8/2022: Azelio has concluded the cooperation negotiations and the final job reductions amount to 55 persons. The reductions consist of direct dismissals as well as persons deciding to resign themselves without compensation. In addition to the reduction of 55 staff, the company has decided to reduce the number of consultants by 68 persons, thus adding the total job reductions up to 123 persons.
Eurofound (2022), Azelio, Internal restructuring in Sweden, factsheet number 106981, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/106981.
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