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.
Novo Energy has announced a reduction of 150 jobs, equating to 50% of its workforce.
The restructuring follows the bankruptcy of Novo Energy's technology partner, Northvolt, and aims to optimise operations and manage costs. The layoffs will primarily affect white-collar workers.
Novo Energy, established in 2021, was initially a joint venture between Northvolt and Volvo Cars, aimed at building a dedicated battery factory in Gothenburg.
A previous round of layoffs was announced by Novo Energy in January 2025. The event has been recorded in the ERM events database Novo Energy - SE.
Eurofound (2025), Novo Energy, Internal restructuring in Sweden, factsheet number 202694, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/202694.
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