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.
Danish wind turbine systems manufacturer Vestas has announced that it will cut 650 positions at its European production facilities by the end of June 2022. The company is to close its three factories located in Germany, Denmark, and Spain.
According to the company's CEO, plants' closures are needed to optimise the production of future wind turbines, especially in light of current 'fast-moving energy transition' which require to evolve their 'manufacturing footprint'.
The factories in Viveiro (Spain) and Lauchhammer (Germany), with 115 and 460 employees respectively, are expected to be closed by the end of 2021, while the unit in Esbjerg (Denmark), with 75 employees, is to be shut in the first half of 2022. Vestas will continue to produce onshore and offshore wind turbines at its 12 factories across Europe.
Founded in 1898 in Denmark, Vestas currently employs around 24,000 people worldwide.
Eurofound (2021), Vestas, Closure in European Union, factsheet number 105387, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/105387.