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 Manufacture Of Computer, Electrical Electronic And Optical Products Manufacture Of Electrical Equipment 27 - Manufacture of electrical equipment
600 jobs Number of planned job creations
Announcement Date
30 August 2022
Employment effect (start)
30 August 2022
Foreseen end date
31 December 2022
Description
Stiebel Eltron, a manufacturer of electrical, hot water and heating appliances, has announced the creation of 600 new jobs worldwide. 400 will be in Germany, at its headquarters in Holzminden, Lower Saxony (Stiebel Eltron 2022 - DE), and 200 will be in other locations.
Stiebel Eltron is a manufacturer of heat pumps. By the end of the year, the company wants to produce 80,000 pumps, an increase of 60 percent compared to the previous year. New recruitment will be for production as well as for sales and customer service.
The background to Stiebel Eltron's expansion is also Russia's war against Ukraine. Germany wants to become less dependent on gas imports from Russia and be climate-neutral by 2045. This also affects the topic of heating, since heat pumps are replacing heating systems with oil or gas boilers.
The company employs around 4,000 people worldwide. In 2020, Stiebel Eltron had increased turnover to 700€ million, last year it was 830€ million.
Eurofound (2022), Stiebel Eltron, Business expansion in World, factsheet number 107289, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/107289.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
