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 27.90 - Manufacture Of Other Electrical Equipment
40 jobs Number of planned job losses
Announcement Date
13 January 2025
Employment effect (start)
1 December 2024
Foreseen end date
Description
Nel, a Norwegian hydrogen technology company, announced workforce reductions impacting approximately 20% of its staff, which equates to around 80 employees. The restructuring process began in late 2024, with about half of the planned job cuts already executed through voluntary resignations and reductions in consultant roles. The affected unit is the Alkaline production facility at Herøya, Porsgrunn, where production will be temporarily halted.
The downsizing decision follows a weaker-than-expected market for renewable hydrogen production technology. Nel cited lower order intake in 2023 and 2024 as a primary reason for the adjustment, compounded by delays in customer projects and a general slowdown in the hydrogen market.
The temporary production halt at Herøya is aimed at aligning production capacity with market demand while preserving cash flow. Despite current challenges, Nel states that the company remains optimistic about long-term prospects for clean hydrogen and is actively pursuing sales opportunities and technological development.
Eurofound (2025), Nel, Internal restructuring in Norway, factsheet number 202187, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/202187.
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