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.
Nordex Group, a manufacturer of wind turbines headquartered in Hamburg-Langehorn, Germany, announced 600 job cuts in its production plant in Rostock, Mecklenburg-Vorpommern, Germany.
Nordex Group announced to cease the production of rotor blades at its site in Rostock, Germany, by the end of June 2022. The job cuts were set out by the firm on February 28th, 2022 and are to be implemented by the end of June 2022. The company stated that the closure is due to increased competition and the demand for larger rotor blades, which cannot be produced in the production plant in Rostock, Germany.
Nordex Group announced a reconciliation of interests and a social plan to make job cuts socially acceptable for employees. The trade union IG Metall Rostock-Schwerin, Germany, wants to save 530 jobs by attracting new investors.
Nordex Group generated sales of around €4.6 billion in 2020. The company employs over 8,500 people worldwide with production plants in Germany, Spain, Brazil, the USA, India and Mexico. In Germany, the Nordex Group employs around 3,150 people.
Eurofound (2022), Nordex, Closure in Germany, factsheet number 106684, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/106684.