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 5 September 2017, German wind turbine maker Nordex announced the plan to cut between 400 and 500 jobs by the en of the year. The job cuts will affect mainly Germany but also other branches in Europe. The job reduction is a result of the decline in demand. The plan will allow the company to achieve effective savings of EUR 45 million in 2018. Both personnel costs and cost of materials will be reduced.
The employees representatives have been informed and the company said that it will try to carry out job reductions in a socially acceptable way.
Nordex currently employs around 5,200 workers around the world, almost half of whom in Germany.
Eurofound (2017), Nordex, Internal restructuring in European Union, factsheet number 91869, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/91869.