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.
LM Wind Power, part of the American company GE Vernova, produces windmill wings and will dimiss 170 employees from the technology center in Lunderskov and the national headquarters in Kolding. The dimissal notice will be effective from end of April. This is part of the plan to cut costs and dismiss 1.000 employees worldwide in LM Wind Power.
GE Vernova took over LM Wind Power in 2017, but has not been able to make a surplus except for 2019. LM Wind Power experienced a deficit of 3.6 billion kroner in their first five years from 2017 and GE Vernova has now chosen to cut down production of wings.
Eurofound (2024), LM WIND POWER, Internal restructuring in Denmark, factsheet number 201058, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/201058.