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.
Wind turbine manufacturer Vestas Wind Systems has announced 1900 job losses, mainly in the UK and Denmark, despite rising profits. The Isle of Wight plant will stop production in June, cutting 600 jobs. A further 1300 jobs will go in Denmark, although no timeframe was given for these. The company blames the reduced demand in Northern Europe and intends to expand in China and the US, where demand is greater. There will be a 2 - 3 month consultation with workers, to give career and retraining support, advice and guidance to those affected. The TUC's general secretary said the UK job losses "would not only be a blow to the emerging green sector, but would also be a personal tragedy for the hundreds of workers affected locally."
Eurofound (2009), Vestas Wind Systems, Closure in European Union, factsheet number 68858, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/68858.