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.
As reported on November 15, 2011 wind turbine manufacturer Nordex plans to reduce 120 jobs in Rostock. The cuts are said to be implemented by mid December 2011 and will be carried out through voluntary departure programmes avoiding forced redundancies.
The restructuring takes place due to the great global competition in the wind turbine market. Additionally, project delays and resulting losses are reported to be causes of the job cuts.
Nordex does not only cut jobs in Germany. Worldwide250 out of 2700 jobs are affected by the restructuring.
Eurofound (2011), Nordex, Internal restructuring in Germany, factsheet number 72742, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/72742.