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.
On 13 March 2017, German wind turbine manufacturer Senvion announced to cut 780 jobs in Germany by the end of 2017. Furthermore, Senvion’s production sites in Trampe and Husum and the subsidiary Power Blades in Bremerhaven will be closed. These job cuts will affect other company sites as well.
According to the company's management the restructuring is inevitable due to an increase in competition and price pressure. Senvion wants to bundle the production at Bremerhaven as well as abroad in Portugal and India. Due to this, the restructuring includes a relocation of some production activities. Further 50 jobs will be cut abroad.
According to the management, the restructuring will save €40 million annually. However, the company will invest in development to stay competitive and announced the construction of four new wind turbines within the following 18 months.
Senvion did not name any timeline for the restructuring. The company employs about 4,830 employees worldwide.
Eurofound (2017), Senvion, Closure in Germany, factsheet number 90532, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/90532.