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.
Alfen is a firm that operates in the energy market and manufactures battery systems, charging stations and transformer units. Based in Almere, the Dutch company announced it will cut up to 15% of its workforce, equating to around 170 jobs. It is unknown which unit will be most affected by these job cuts.
The main reason for the job cuts nclude challenges in the EV (electric vehicle) market, which has been weaker than expected, leading to lower-than-anticipated revenue growth. Other factors include unexpected moisture issues in transformer stations, resulting in multi-million euro write-offs for the company. Additionally, some orders have been delayed due to low battery prices. The job cuts are expected to save Alfen around €15 million, a figure that could be higher if reductions are achieved through natural attrition, such as retirements.
Eurofound (2024), Alfen, Internal restructuring in Netherlands, factsheet number 201804, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/201804.