Restructuring events
European Restructuring Monitor (ERM)
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.
The Swedish electric car manufacturer Nevs has announced a plan to lay-off nearly all of its staff, 320 of 340 employees,in Trollhättan, Sweden. Negotiations with the trade unions have started and are expected to continue for 6 months.
Nevs is owned by Evergrande Group. The group has negotiated for new ownership for Nevs, but the negotiations fell through. Thus, the company's CEO informs that the company must cut costs and freeze its operations. The company will however not go bankrupt according to the CEO. Representative for the trade union IF Metall has commented that the news of lay-offs are unfortunate, but not surprising.
In 2021, the company laid off a total of 290 out of 650 people due to financial problems.
Nevs is based in the Swedish Trollhättan and currently has 340 employees.
Update 4.4.2023: In late March 2023, when negotiations were done, Nevs CEO announced that 23 employees will remain at the company. 8 of these will work on the production side and the remainig 15 are white-collar employees.
Eurofound (2023), Nevs, Bankruptcy in Sweden, factsheet number 108482, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/108482.